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Following my comments, David and Jesse will provide additional comments regarding our investment strategy, investment portfolio, financial results, capital structure and leverage, and our expectations for the first quarter of 2024, after which we'll be happy to take your questions. per share or over 2.7 times our IPO price of $15 per share.
About 75% of venture-capital funds raised from 2007 to 2016 beat the Russell 2000 during that time, and roughly 60% beat the S&P 500, according to a 2021 research paper published in the Harvard Business Review.
Importantly and atypically, over half of our Q1 debt brokerage dealflow was on non-multifamily assets in retail, hospitality, industrial, and office. While some deals will need to be adjusted or even reworked, many deals remain on track. But you can't do that at current leverage levels. That's helpful.
About 75% of venture-capital funds raised from 2007 to 2016 beat the Russell 2000 during that time, and roughly 60% beat the S&P 500, according to a 2021 research paper published in the Harvard Business Review.
And you can go long, you can go short, you can have leverage, you could have higher exposure levels, but the securities are in the liquid public markets versus private equity, which are in illiquid private markets. 00:45:53 [Speaker Changed] So where does your dealflow come from? It sounds like very competitive space.
You’ve probably heard some aspects of this from the various interviews I’ve done with Howard Marks talking about the distressed asset fund they set up in 2007. You joined in 2007. But, but fast forward to June of 2007, you know, oaktree in the distressed debt landscape is, is really, you know, second to none.
So a very different dynamic than we saw back in 2007, 2008, 2009. And you know, it’s funny, when I was on the road in the early days, you know, talk about even post GFC, you’d meet with large scale institutions and you talk about senior secured loans, private lending, covenants, reasonable leverage, et cetera, et cetera.
BXPE will leverage the firm's full breadth of investment capabilities in private equity, including buyout, secondaries, tactical opportunities, life sciences growth, and other opportunistic strategies. So how is it possible to generate positive comp ratio leverage when revenues are down. Just maybe help me understand those mechanics.
These three sectors comprise approximately 75% of our global real estate equity portfolio today compared to 2% in 2007. And we think operating leverage over the long term. And then longer term, that sort of picture of stability and over time of operating leverage. Real estate markets, of course, are cyclical.
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