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billion of net income, CPP Investments directly and indirectly incurred $1,617 million of operating expenses, $1,449 million in investment management fees and $2,067 million in performancefees paid to external managers, as well as $427 million of transaction-related expenses. To generate $46.4 bps and below the 28.6
And we looked more like an industrial conglomerate than — RITHOLTZ: That’s where I was going to go. Between, you know, the 2018 time period and 2021, the public markets experienced multiple expansion on an EV to EBITDA basis of about 11, 12 times, historically. We’re a builder of businesses.,
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