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Total annualized organic base fee growth of 1% reflected seasonally softer flows earlier in the quarter before coming back to target in March. billion increased 11% year over year, driven by the impact of market appreciation over the last 12 months on average AUM and higher performancefees and technology services revenue.
On an equivalent day count basis, our annualized effective fee rate was 0.2 Performancefees of 118 million increased from a year ago, primarily reflecting higher revenue from illiquid alternatives. We talked to you about adding nearly $2 billion of base and performancefees in 2022. government money market funds.
iShares' fixed-income ETF assets now stand at over $1 trillion, nearly 40% higher than at year-end 2021. We expect these private market assets to positively impact BlackRock's overall effective fee rate by 0.5 Across asset classes, investment performance remains strong over the long run. And Aladdin. Finally, fixed income.
billion was 7% higher year over year, driven by the impact of higher markets on average AUM and higher performancefees. Fourth quarter and full year performancefees of 311 million and 554 million, respectively, increased from a year ago, reflecting higher revenue from liquid alternatives and long-only mandates.
Our BREIT, BIP Infrastructure, and BPP perpetual strategies acquired the company for $10 billion in 2021, and its lease capacity has already grown sixfold in less than three years. The firm itself could not be in a stronger position with minimal net debt and no insurance liabilities, allowing us to distribute $4.7
Financial reporting As at June 30, 2023, the annualized costs incurred for CDPQ’s activities, which include internal operating expenses, external management fees and transaction costs, were estimated at 55 cents per $100 of net average assets, compared with 48 cents as at December 31, 2022.
While acquisitions contributed a portion of the year-over-year growth in adjusted EBITDA, we're also benefiting from a healthy mix of higher pull-through of specialty technology and services, as well as maturation of the performance we book. The Motley Fool has no position in any of the stocks mentioned.
In the most recent triennial review published in December 2022, the Chief Actuary reaffirmed that, as at December 31, 2021, both the base and additional CPP continue to be sustainable over the long term at the legislated contribution rates. Public Equities include absolute return strategies and related investment liabilities.
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. And that comes from having our capital invested alongside theirs, and having very strict requirements for performance before we get paid performancefees.
billion was 8% higher year over year, driven by positive organic base fee growth and the impact of market movements on average AUM over the last 12 months. Higher performancefees and technology services revenue also contributed to revenue growth. Our annualized effective fee rate was flat compared to the first quarter.
Our largest data center portfolio company, QTS, has grown lease capacity seven times since we took it private in 2021. Since the start of 2021, the absolute return composite net of fees is a cumulative 27% or nearly double the traditional 60-40 portfolio. The Motley Fool has positions in and recommends Blackstone.
And finally, for BAAM, since the start of 2021, when we brought in Joe Dowling to lead the business, the BPS Composite has been up every quarter, outperforming the 60-40 portfolio by approximately 1,200 basis points. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
Since 2021, we have deployed $5.8 Book value, up 8% since 2021, very stable quarter over quarter. When you look at our capital deployment since 2021, if you look to the left part of the page, Jan of 2021, earnings available for distribution were $0.34. We raised $300 million. So you understand our thought process.
For example, BIP joined our real estate team in 2021 to privatize the QTS data center business, which has become the largest and fastest-growing data center platform in the world. gross return for the absolute return composite, the 19th consecutive quarter of positive performance, and 13% for the year. billion valuation.
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