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billion of net income, CPP Investments directly and indirectly incurred $1,617 million of operating expenses, $1,449 million in investment management fees and $2,067 million in performancefees paid to external managers, as well as $427 million of transaction-related expenses. billion, including the assumption of debt.
You know, when the firm launched its debt business, I was the analyst putting together some of the credit analysis on the first couple of loans that we had written at that time. And we looked more like an industrial conglomerate than — RITHOLTZ: That’s where I was going to go. We’re a builder of businesses.,
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