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And the best thing about our operation is the collaboration we have between the teams on sharing bestpractices on best-in-class rigs. Our next question comes from the line of Kalei Akamine of Bank of America. Kalei Akamine -- Bank of America Merrill Lynch -- Analyst Hey, good morning, guys. Thank you.
The bank decided to realign their business processes by splitting applications testing from development and maintenance in order to improve quality, time to market, and cost efficiency. As a result of this initial success, the bank is expanding our engagement into other critical business operations. We're a publiccompany.
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. Operator Your next question comes from Craig Siegenthaler with Bank of America. It was a big private bank.
This becomes increasingly important with the new SEC rules detailing that all publiccompanies will be required to report material breaches within four business days. Next question will be from Saket Kalia of Barclays with Brad Zelnick from Deutsche Bank on deck. Brad Zelnick -- Deutsche Bank -- Analyst Great.
The Okta Secure Identity commitment extends even further to champion customer bestpractices that enable our customers to be highly protected and elevate our industry to be more secure from identity attacks. Madeline Brooks -- Bank of America Merrill Lynch -- Analyst Hi, team. Peter Levine -- Evercore ISI -- Analyst Great.
This is the 13th consecutive quarter as a publiccompany in which we have met or exceeded our revenue guidance range. The IP liability is associated with these large language models that are trained on the public internet are unbounded OK. Unbounded liability is a problem for Bank of America.
We bolstered our global payment network with a focus on supporting our strategic payer markets like India and China, enhancing our relationships with WeChat Pay as well as three of the largest banks in India. Operator Our next question comes from the line of Nate Svensson with Deutsche Bank. Good afternoon, everyone.
Before we go into details about the quarter, I want to provide some context on what we have accomplished as a publiccompany and how we are looking toward the future. Operator And our next question will come from Nate Svensson with Deutsche Bank. Pat Ennis -- Analyst Thanks, guys. Please go ahead. Thanks for the questions.
The other part that is very important for us and that's where the puck is heading for institutional investors, is the engagement with our portfolio companies. We think it's about value creation, we believe it adds value to these companies and that's what ultimately we are all about.
Ensuring leadership continuity is a standing priority, and we took this opportunity to update BCI's process in accordance with current industry bestpractices. Working with our Board of Directors, we revised BCI’s Compensation Philosophy, including incentive elements, to bring them in line with current industry bestpractices.
Fee structures may change, with pressure on publiccompanies to reduce management fees and focus on performance-based compensation. Conclusion: The top tech companies and top private equity funds share some similarities, but the growth dynamics are different.
In the prepared comments, you'll talk about -- point out sort of the opportunity to implement these kind of shared bestpractices, if you will, of the two companies, and you're closely studying kind of various completion designs. Just how does that kind of work in practice? John Freeman -- Analyst That's great.
We delivered strong financial results in our first quarter as a publiccompany, with 5% adjusted EBITDA growth and 20% AFFO per share growth. Congrats on your first quarter as a publiccompany. Operator Your next question comes from Joshua Dennerlein of Bank of America. I'll conclude on Slide 14. Please go ahead.
Following our assessment of FedEx Freight, which we announced and commenced back in June, we have decided to pursue a full separation of this business, which will result in two industry leading publiccompanies. In the spirit of One FedEx, we are bringing hub and sort bestpractices from U.S. Surface team.
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