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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. There is a lot of debt -- there's a lot of equity capital out there.
00:36:05 [Speaker Changed] So privateequityfirms tend to come in and take over running these companies. 00:45:53 [Speaker Changed] So where does your dealflow come from? And I was, I was very honored and I think it was a testament to my advocacy for women in the firm.
I found this to be just a masterclass in everything you need to know about distressed credit investing, private credit, the role of the economy, the fed interest rates, inflation, bottoms up, credit picking, and how to manage a firm and a fund in light of just massive dislocations in your space, as well as the overall economy.
You had a lot of the big buyout firms, they were doing the transactions in the ‘80s, in the early ‘90s. But, you know, these large firms were spinning off smaller privateequityfirms. And they were doing mid-sized deals. KENCEL: — as an equity partner, right? RITHOLTZ: Right.
You've got an equity market that has rallied. There are lots of companies out there who would like to sell things, privateequityfirms, in particular. So putting numbers on it is hard, but we would expect deal activity to pick up. There are folks in real estate who've been frozen here for a couple of years.
Due to increased dealflow and revenues, we grew diluted earnings per share 33% year over year to $0.85 And if you look at '21 into '22 into '23, there was significant M&A activity of either public-private or public-public as it relates to large REITs and as well as privateequityfirms buying publicly traded companies.
These three sectors comprise approximately 75% of our global real estate equity portfolio today compared to 2% in 2007. There's also a variable around the sort of the level of dealflow a year ago and the benefit that comes from buying those funds at a discount to the fund returns in the short term.
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