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debt to total capital ratio. We are extremely well positioned to spin Millrose and to be able to continue to repurchase shares and reduce debt as we have driven strong overall operating results to date. And then turning to our debt position, we had no redemptions or repurchases of senior notes this quarter.
They can use their growing earnings to increase shareholder value through capitalinvestments, acquisitions, share repurchases, dividend payments, and debt reduction. That means for every $1,000 you invest in the fund, you'd pay only $0.30 in managementfees each year. The fund has a 0.03% ETF expense ratio.
We are also excited about the follow-on investments we made to finance strategic acquisitions by two of our high-performing lower middle market portfolio companies. Each of which were funded by follow-on debtinvestments by Main Street for a total of over $36 million of incremental debtinvestments in these portfolio companies.
The combination triples infrastructure AUM and doubles private markets run-rate managementfees. It aims to realize the enormous investment potential of infrastructure to support AI innovation, and it's just the first proof point of the growth synergies we can create together. Our partnership with Microsoft and MGX.
By using proceeds from equity and debt financings, as well as cash flows from our operations, we strategically accumulate bitcoin and advocate for its role as digital capital. One, debt financing. billion in principal amount of convertible debt outstanding at an attractive blended cost of debt fixed at 0.8%
Our strong balance sheet underscored by A3 A- credit ratings and deep access to capital globally continue to represent significant competitive advantages, fueling the opportunity to grow earnings through multiple channels. Our leverage, as measured by net debt to annualized pro forma adjusted EBITDA was a healthy 5.4 Jonathan W.
We have one of the strongest and most experienced teams of real estate professionals in the cannabis industry, a high-quality portfolio and a conservative and flexible balance sheet with a 12% debt to total gross assets. No variable rate debt, no debt maturities until May 2026. Moving on to rent collection.
During the quarter, we took the opportunity to reposition a portion of the investment securities portfolio. per share of net losses on the sale of debt securities. We also benefited from improved results in our venture capitalinvestments. Our results included $447 million or $0.10 Turning to expenses on Slide 7.
Managing CPP Investments Costs Discipline in cost management is a main thrust of our public accountability as we continue to build an internationally competitive enterprise that seeks to create enduring value for multiple generations of beneficiaries of the CPP. billion, including the assumption of debt. To generate $46.4
market share in investing banking with share gains in debt and equity capital markets and increased revenue in our advisory business in 2024. We entered 2025 with a solid pipeline in both capital markets and advisory, while the market conditions can always change. We also grew our U.S.
John Graham, president and chief executive officer of the Canada Pension Plan (CPP) Investment Board, told BNN Bloomberg in an interview that he expects the U.S. to resolve its debt ceiling debacle and is looking to raise liquidity to take advantage of “opportunities” the fund sees in equity and fixed-income markets. We own a 16.3%
” We learned leverage finance, we learned real estate debt, we knew high yield, we knew opportunistic investment and we’re like, it’s never too late, it’s never too early and we decided to go with a huge $4 million AUM that we had gathered from friends and family. You were effectively into the real stuff.
And of those raises, over 85% was in the form of debt. The total amount of capitalinvested and committed across our operating portfolio equates to $275 per square foot, which we believe remains significantly below replacement cost. At quarter end, we had approximately $2.6 With that, I'll turn it back to Alan.
Over the last 12 months, we have grown managementfees by 26%, fee-related earnings by 27%, and distributable earnings by 22%, all compared to the prior-year period. billion of equity capital raised and $12 billion, including debt. For many of our products, there is zero redemption. Moving on to the quarter.
per cent and the value of its venture capitalinvestments increased by 25.8 Private equity investments rose by 11.7 The table below summarizes Ontario Teachers investment returns and related benchmark returns by investment asset class for the current and previous year. 4 During 2024, investments of $10.1
We continue to have one of the lowest levered balance sheets in the REIT industry at 11% debt to total gross assets, no variable rate debt, and no debt maturities until May 2026. David will provide more detail as well on our financial results for the quarter and capital position. And with that, I'll turn it over to David.
economy, historically tight financing spreads, greater debt availability, the prospects of a more business-friendly regulatory climate and importantly, accelerating technological innovations have given us confidence to deploy capital at scale. First, with respect to fee-related earnings. Managementfees rose 12% to a record $1.9
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