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million, which was offset by a decrease in the cost of our D&O liability insurance premium in the amount of $0.3 Inaudible] Altogether, in terms of the locations and the place, by far, our pipeline and dealflow is far bigger than what we have indicated, and we continue to work. The increase of $0.7 we have put the U.S.
The most notable growth came from our personal lines, marine and energy, property and general liability product lines while we saw lower premium volume within our professional liability product lines. This is primarily due to higher attritional loss ratios in our professional liability and general liability product lines.
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. We have a track record of doing that and we'll continue to do that. That's helpful.
Maintaining the portfolio’s size, and growing it further, requires stepping up from the small-cap investments made at the beginning and developing large-cap partnerships and dealflow out of New York. The typical four- to five-year tenor of a private debt deal means around 20 per cent of the portfolio is in perpetual motion.
And they're confident in their ability to deliver the investment performance they need through durable alpha and active proprietary dealflow in private markets, or proper index tracking of ETFs. 1 thing they're looking for as a selected manager is proprietary differentiated dealflow.
NAV is defined as total assets minus total liabilities and is reported on a per share basis. Do you expect that cadence to accelerate, if the deal -- flowdeal market opens up? A lot of the BDC peers talk about their corporate structure, the parent, the related companies that give them very good dealflow.
Our conversion rate of deals approved by our investment committee to letters of intent signed is the highest in over two years at approximately 38%. Simultaneously, we have ramped up our efforts and leveraged our tenant relationships, exemplifying how we create proprietary dealflow and accretive off-market opportunities.
We don't really toggle a dollar amount to that number of deals, but it's substantial. And quite frankly, there's just a lot of dealsflowing in at the moment so I would say very active. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. That's U.S.
NAV is defined as total assets minus total liabilities and is also reported on a per share basis. But it's really hard to predict what happens in Washington and what impact that'll have on overall dealflow activity and specifically dealflow activity in the lower middle market strategy. David, I covered a lot.
But having said that, I think we're seeing a bit of pickup in dealflow, and I would expect the environment to be a bit more supportive. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Manan Gosalia -- Morgan Stanley -- Analyst Great.
So, it's really -- it's basically about the dealflow if you really put it in business terms. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
To add more context around overall dealflow, EMEA grew the fastest during the quarter, followed by the Americas and APJ. So, the mix of business is generally partly a function of dealflow in the quarter. I think it bounces around a little bit based on dealflow and renewal contracts, timing, and so forth.
Our partner network continues to generate opportunities and open new dealflow. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
And although the current economic climate is challenging, it presents an excellent opportunity for off-price deal-making with distressed vendors and retailers. We've added a highly regarded off-price buyer to our team to open new relationships, create an off-price dealflow, evaluate assortment, fit, and execute.
We have virtually no net debt, no insurance liabilities and a share count that is almost unchanged over the past seven years despite the extraordinary growth we've achieved. The relationships we have there, that dealflow is very helpful to our credit business as well. So we feel good about what we're doing.
This will also help public and corporate leaders to better assess cyber risks and liabilities, so they can develop effective strategies and mitigate potential impacts. And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters? The Motley Fool has a disclosure policy.
We continue to experience healthy dealflow, which helped offset the margin impact of our system integration, which we estimate was approximately 130 basis points in the quarter. Yes, the technology implementation has had an impact, but the dealflow we're seeing the backdrop from a buying perspective feels very good.
Do you see that going forward of continuing to bridge that gap in the capital markets, or is there another color that you are seeing in the dealflow? Baird and Company -- Analyst More OHI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool.
Our buyers are doing a fantastic job partnering with suppliers, and we are seeing healthy dealflow across categories. We're seeing healthy dealflow across departments, which feels really good. So, healthy dealflow across departments and across categories, which is benefiting us.
But in addition to that, we are seeing some dealflow from them because, in the end, our technology is complementary to theirs. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Shmunis -- Founder, Chairman, and Chief Executive Officer Yeah.
The number of joint deals in our pipeline being worked between us and CDW partners has increased from zero to over 60 deals over just the last two quarters. This represents a completely new source of dealflow. We closed five new customers from Domo Everywhere partners during Q2.
Just as a reminder, in Q4, we highlighted deal timing landing in the quarter, not deal slips. And I would just point out, deal timing was not a factor in Q1 as it was in Q4. In Q1, we saw healthy dealflow throughout the quarter that was in line or slightly better than our expectations.
Our team's efforts continue to produce unique and proprietary dealflow, and we continue to identify attractive investment opportunities across all three external growth platforms. 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.
Over the last several years, we've maintained a strong risk appetite framework and have been very deliberate about how we deploy our deposits and other liabilities into high-quality assets. And our investment bank and commercial bank are going to be closely coordinated to harvest the dealflow around the world.
Dealflow is very strong, and we believe that we are still the best partner in the industry. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
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.
I know you guys had mentioned a tough compare in August, but can you just speak to the quality magnitude of dealflow that you're seeing right now, how you're expecting that to trend and just how we should be thinking about compares there? And then just as a follow-up, I wanted to ask about the closeout pipeline.
As we look forward, dealflow is significant. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.
We intend to launch a strategy focused on triple net lease in Europe, driven by dealflow we already see today. Marc and the team have done a terrific job here, but one thing that stands out to me is their ability to source transactions and just the absolute level of dealflow. The Motley Fool has a disclosure policy.
I do think dealflow activity will pick up, and that will generate some repayment income that we haven't had for a while. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. So, I'd be very pleased if it stayed like this for a while.
As I stated in the past, we have yet to see a correlation between sales and retailer demand as evidenced by our dealflow, which in terms of square footage is 40% greater when compared to the same period last year. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
Our team's continued efforts to create value and identify these opportunities combined with our improved cost of capital have opened up a larger opportunity set and resulted in accelerated dealflow. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
To add more context around dealflow during the quarter, we did not close deals to the extent we expected. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Elastic.
To add more context around dealflow during the quarter, we saw a healthy balance across our solutions and continue to maintain a similar solution mix in annual contract values versus the prior quarter. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
And I certainly think we'll ramp up in Richmond in terms of the new dealflow we're starting to see there. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. So, no, not in those two markets. Ronald Kamdem -- Morgan Stanley -- Analyst Got it. Makes sense.
Rick McConnell -- Chief Executive Officer Well, at the high end of the market -- the higher end of the market, at the global 15,000, I would say that most of the dealflow and pipeline moves in our direction. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
To add more context around dealflow during the quarter, we had solid sales execution with improving performance compared to the prior quarter. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool recommends Elastic.
Just now that we've kind of been through a full year of the SaaS transition, and we have a decent amount of critical mass in that business in dealflow and whatnot. Maybe for Yaki, just in terms of -- I know the 25% to 30% uplift on deals on conversion. The Motley Fool has positions in and recommends Varonis Systems.
And how is that impacting, I guess, either dealflow or maybe deal sizes? Hutton -- Analyst More NOTE analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Josh Resnik -- President and Chief Operating Officer Hey, Matt. This is Josh Resnik.
To add more context around overall dealflow, EMEA grew fastest during the quarter, followed by APJ and the Americas. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Elastic.
Healthy dealflow and a favorable buying environment drove margin expansion and more than offset inventory inefficiencies related to our system transition, which we estimate to have impacted gross margin by approximately 50 basis points. Our new stores are performing well and building in line with our expectations.
Thanks for taking the question and congrats on the dealflows. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. So two for me.
There's not a lot of dealflow. Baird and Company -- Analyst Russell Quelch -- Redburn Partners -- Analyst More SPGI analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. The Motley Fool has positions in and recommends S&P Global.
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