In a recent episode of the Capital Allocators podcast, John Fitzpatrick, Blackstone’s Chief Technology Officer for Alternative Asset Management, offers a grounded take on artificial intelligence in investment management. Rather than chasing every new AI tool, Fitzpatrick emphasizes that long-term success hinges on data integrity, foundational infrastructure, and realistic expectations.
Leading a tech team of 1,000+ professionals, Fitzpatrick reveals that Blackstone has spent the past two and a half years building its own AI SDK and core platform to power scalable, strategic use cases like document parsing, conversational interfaces, and macro-trend modeling. While many AI startups today are simply “wrappers” on generic large language models, Fitzpatrick argues that true competitive advantage lies in structured data and deep process integration—not novelty.
His advice is refreshingly tactical: hire smart generalists over
First Multifamily Fraud Prevention Alliance
Launches Verified Identity Product
The expanded partnership signals a new era in rental fraud prevention, as CLEAR will join the fraud
prevention alliance and VERIFIED becomes the channel for identity verification services in multifamily.
NEW YORK, NEW YORK (Wednesday, June 4, 2025) — In a groundbreaking move for
multifamily housing, 100 has strengthened its commitment to shape industry-wide
transformation through the first fraud prevention alliance, uniting innovators in identity, fraud
prevention, and real estate. CLEAR will join as a founding member, alongside NMHC Top 50
leaders including Pauline Houchins (Asset Living), Allison Crawford (Knightvest Residential),
Brenda Lindner and Russell Church (RAM Partners) and more, bringing together experienced
and forward-thinking voices. This fraud prevention alliance allows property managers to
accelerate the adoption of digital identity solutions to prevent fraud in real estate. A key part of
this effort is the adoption of VERIFIED by 100—a newly launched product that integrates
CLEAR’s trusted identity verification network directly into leading property management
systems, making implementation seamless and secure.
Identity fraud is reaching crisis levels in rental housing. According to the 2024 NMHC Rental
Survey, over 70% of operators reported incidents of identity theft in the past year—resulting in
property damage, criminal activity, and increasing safety concerns.
“Fraud is no longer an isolated risk—it’s a systemic threat that requires an industry-wide
response,” said Russell Church, Executive Vice President at RAM Partners. “Joining forces
reflects our commitment to raising the bar and driving trust and confidence across every
community we serve."
VERIFIED addresses this challenge head-on by authenticating every individual entering a
property—guests, service providers, prospects, and vendors—through biometric verification,
secure data checks, and encrypted digital credentials. Fully integrated with leading property
management systems, VERIFIED offers operators real-time, scalable protection and a single,
trusted pathway to deploy CLEAR’s identity technology across their communities. VERIFIED is
now available nationwide.
“For too long, multifamily has relied on outdated systems—or worse, gut instinct—to decide who
gets on-site,” said Caren Maio, CEO & Co-Founder of 100. “VERIFIED is more than a security
upgrade—it’s the next step in our fraud prevention platform and the foundation of the alliance’s
mission to put identity at the center of community safety.”
The alliance is not just launching technology—it’s creating a new playbook for rental housing.
Through shared knowledge, proven frameworks, and best-in-class tools, members are coming
together to elevate industry practices, strengthen community safety, and proactively build a more
secure future for multifamily housing.
“This is a defining moment for the multifamily industry,” said Andres Ricaurte, SVP & Head of
Consumer and Financial Services at CLEAR. “Together, we’re replacing outdated guesswork
with secure, scalable identity verification—and setting a new standard of trust, safety, and
accountability in rental housing.”
With CLEAR’s expertise in identity and privacy-first innovation, and 100’s deep focus on
multifamily fraud prevention, the alliance will continue to lead a long-overdue shift toward
smarter, safer community access—and, with the backing of NMHC Top 50 operators, empower
the industry with the tools and guidance needed to keep residents and assets protected.
To learn more, visit get100.com/verified and identity.clearme.com/verifiedby100.
AI “experts,” focus on clear ROI over shiny experiments, and treat technology adoption as a joint business-technical initiative. In his words, “I could build the greatest piece of technology, but if they’re not going to change their process and use it, it’s a complete waste.”
For real estate leaders and investment professionals navigating the hype cycle, Fitzpatrick’s framework is a reminder that innovation without operational readiness is just noise—and that AI, like any transformative tech, must be implemented with discipline, not blind faith.
