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Nonoperating results for the quarter included $90 million of net investment gains, driven primarily by mark-to-market noncash gains on our unhedged seed capitalinvestments and minority investment in Investec. Operating income of $1.8 billion was up 17% and earnings per share of $9.81
Technology ranked 4th in dealflow but had the highest average pursuit rate, 8.76%, of all sectors. See below for the full Q3 deal activity overview on the Axial platform, and for a more detailed breakdown by industry, check out The SMB M&A Pipeline: Q3 2023. .”
Nonoperating results for the quarter included $108 million of net investment gains, driven primarily by gains linked to a minority investment and unhedged seed capitalinvestments. Earnings per share of $11.46 increased 5%, reflecting a higher tax rate compared to a year ago. to 1 full basis point.
So when we started this strategy in 1718, and started allocating capital, investing in entrepreneurs who had a solution, that had to be massified. In that case, one of the largest European insurance company, if not global, and having together a different proposal, fully aligned, with some complementary sourcing to the dealflow.
I wish this was a video call so that I can ask for a show of hand on how many of you predicted that the Fed would lower the Fed funds rate 50 bps in mid-September, and over the next six weeks, the U.S. If you work at a hedgefund and bet that prediction, let me know if you need help spending all the money you just made.
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