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Our net cash provided by operating activities was $8 million, and we generated free cash flow of $7.1 I'll note that this is the 15th consecutive quarter as a publiccompany in which we have met or exceeded our revenue guidance. Our partner network continues to generate opportunities and open new dealflow.
And no doubt, he will be a big add to the executive team, having publiccompany CEO experience and getting on the team, we're all super excited to have him. Just as a reminder, in Q4, we highlighted deal timing landing in the quarter, not deal slips. I'm sure he will continue to help power that. So looking forward to it.
We finished 2023 on a strong note with another consecutive quarter of management fee and FRE growth, 11 for 11 since we've been a publiccompany, against a market backdrop that has been exceptionally volatile and uncertain. We intend to launch a strategy focused on triple net lease in Europe, driven by dealflow we already see today.
For example, the Securities and Exchange Commission rule which took effective in December required publiccompanies to disclose cybersecurity breaches in a Form 8-K within four business days after determining it has a material impact on the business. The increasingly dangerous threat environment has led governments to enact regulation.
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.
We celebrated the 25th anniversary of BlackRock becoming a publiccompany, and we closed our acquisition of Global Infrastructure Partners. BlackRock's nearly $4 trillion in assets across public fixed income, cash, and private credit means we both provide integrated fixed-income solutions for our clients and deliverable scale benefits.
While we, as a publiccompany, always provide you with the split times quarterly results, we are running a marathon, not a series of sprints. We also made net purchases of publicly traded equity securities of $155 million, compared to $63 million a year ago. billion, compared to $4.2 billion a year ago.
And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters? We're committed to optimizing growth and margin improvement, and we remain on track to achieving positive free cash flow in the second half of fiscal year '25. Free cash flow margin improved 40% year over year.
It was the first time in our history as a publiccompany where we saw a sequential increase over our seasonally strongest third quarter, making for a difficult year-over-year compare this Q4. We now expect ARR to be $1.485 billion to $1.495 billion or 18% to 19% growth year over year.
Excluding noncash stock based compensation and other publiccompany expenses, G&A was $9.5 And how is that impacting, I guess, either dealflow or maybe deal sizes? Editorial costs were approximately $4.5 million, a slight increase year over year, driven by acquisitions and a slight decrease from last quarter.
data center REIT as a well-positioned but poorly trading publiccompany with tremendous long-term potential. 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.
No, I think it's just there's no sort of predictable seasonality with the BD 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.
publiccompany by market cap, exceeding the market value of all other asset managers. It's possible you could do larger transactions with some publiccompanies to get things done. There may be more capital coming to the space, but I think there'll be more dealflow as well. And so that's a positive.
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