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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. To generate $46.4 bps and below the 28.6
And we looked more like an industrial conglomerate than — RITHOLTZ: That’s where I was going to go. RITHOLTZ: Like, wait, you want me to FedEx your documents to get a wet signature on it, and then have the other eight people sign it. We’re a builder of businesses., LAYTON: — like a private equity firm.
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