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Furthermore, some BDCs, such as Ares Capital, offer more sophisticated financing solutions -- making them appealing to larger publiccompanies as well. Moreover, Hercules has a unique opportunity to form strong relationships with the VCs that back many of its portfolio companies. Well, not exactly.
On October 1, we closed on our acquisition of Global Infrastructure Partners. Our planned acquisition of Preqin is accelerating this exciting private markets data and analytics journey for BlackRock and our clients. The combination triples infrastructure AUM and doubles private markets run-rate management fees.
Or are you guys looking to make some acquisitions in that space? We never precluded an acquisition. But with that, we're very disciplined, I think, in how we approach acquisitions, especially these days. And is there any difference in linearity of dealflow during the quarter, this quarter versus previous quarters?
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. We intend to launch a strategy focused on triple net lease in Europe, driven by dealflow we already see today.
In connection with the Eldorado-Caesars merger, we retired the CMBS debt. And with our acquisition of MGP, we were able to retire all of our remaining secured debt and received an investment-grade credit rating from S&P and Fitch in April of 2022. With that, operator, please open the line for questions. Thanks and good morning.
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