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Our scale enhance our proprietary deal sourcing, access to the execution of dealflow, deeper liquidity, lowering trading costs, all of which benefits each and every one of our clients. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
We have a fantastic business model that generates strong cash flow, and we ended the year with $329 million of cash on hand. Our cash position always decreases in the first quarter as we pay company bonuses, repurchase shares connected to employee stock vesting events, and settle our tax liabilities.
Panossian ] 00:08:19 The liabilities, obviously the hedge funds had redemptions. Now they’re suffering from high rates because they have floating rate liabilities that they never hedged. There were so much for selling from the, something called SIVs, the special investment vehicles, right. That had mismatched assets.
I was in my early thirties, I didn’t have a mortgage, I didn’t have kids, I had very few liabilities. But growing rapidly, that market, when we first did our first secondaries transaction as a, as a firm in 2012 was only 20 billion a drop in the bucket. But it’s not for the faint of heart, that’s for sure.
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