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I backed that company in 2013 when it was basically a table top science project, but the key was a series of connections that could have only been possible as a full time investor. Not only that—these people are doing all sorts of different kinds of deals—and you don’t do deals without dealflow.
Since inception in 2013, when the company was formed by Fortress to take advantage of price dislocations created by higher capital requirements at the banks, we have executed on that plan. The company, which was started in 2013 with $1 billion of equity, has grown to over $7 billion of equity. Along the way, we've distributed $4.7
Since 2013, Randy Travis had aphasia, a condition that limits its ability to speak and sing. So, it's really -- it's basically about the dealflow if you really put it in business terms. We should not abide by the appropriation of people's identities and the theft of artists' livelihoods.
She joined BlackRock in 2013 from Citigroup Inc., Marrying the proprietary origination and business improvement capabilities of GIP and BlackRock’s global corporate and sovereign relationships provides a platform for diversified, large-scale sourcing to support dealflow and co-investment opportunities for clients.
Since 2013, we've repurchased close to 15 billion of BlackRock stock, which generated an unlevered compound annual return of 14% for our shareholders. In 2023, we returned over 4.5 billion to our shareholders through a combination of dividends and share repurchases.
This approach not only enhances long-term risk-adjusted returns, but also allows for diversification and access to dealflow that is not otherwise available through indexing to public markets. In Ireland, for example, the government withdrew billions from its national pension fund to bail out its banks during the 2008 financial crisis.
We saw that as underwriting activity picked up and they had higher dealflow, they had a higher conversion rate of around 19%. My dogs haven't completely ruined the show, but I'm going with Zoetis, ticker is Z-T-S and Zoetis spun off from Pfizer back in 2013, but a fun fact, the company was actually founded in 1952.
It's been around since 2013. Nobody has probably heard of this, but they probably may have seen the Il Makiage makeup ads in their feed because man, they're in my feed so much. laughs] They're everywhere. This company is interesting. It had brought 325 million in net revenue in 2022. Is it time for IPO direct-to-consumer businesses now?
After nearly 20 years in investment banking, at Deutsche Bank and then Credit Suisse, in 2013 he moved to Borealis, OMERS infrastructure arm, to run infrastructure globally and then head the capital markets team. And hes used that vast and varied experience to revamp the C$138.2 billion ($97.2 billion) funds approach to investing.
They were selling for 35, 40 cents seemed like a huge deal. 00:41:54 [Speaker Changed] That was in an Asian manager in 2013. So you mentioned dealflow is, has ticked up, I’m assuming that’ll continue into next year. off, 91 point a half percent off. That’s unbelievable. They close trade close to par.
RITHOLTZ: So your Social Leverage is dealflow connections, access to start founders, access to capital… LINDZON: Low capital requirements. So in 2013, just like you said, VCs are not perfect. You and me doing this podcast, me starting my own podcast. This all is leverage from the network. RITHOLTZ: Right. They are like MOS.
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