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Our capital management strategy remains first to invest in our business and then to return excess cash to shareholders through a combination of dividends and share repurchases. And we again delivered strong margin for our shareholders. 1 thing they're looking for as a selected manager is proprietary differentiated dealflow.
Successful execution of these goals should also result in multiple expansion for our shareholders. On our earnings calls earlier this year, we discussed with our shareholders our visibility to a strong pipeline. Last month, we were selected as a fiduciary manager for a $30 billion Dutch pensionfund with more than 30,000 members.
We invest first, either to scale strategic growth initiatives or drive operational efficiency, and then return excess cash to our shareholders through a combination of dividends and share repurchases. billion to our shareholders through a combination of dividends and share repurchases. In 2023, we returned over 4.5
With supportive markets and more optimistic sentiment from clients, we're confident in our ability to both grow assets on behalf of clients and drive profitable growth for our shareholders. We heard it in our dialogue with them, and we see it in our flows, and I know all of you as shareholders see it in our flows.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Thanks, Katie, and good morning, and welcome to Blackstone's first-quarter conference call. Today's conference is being recorded. Please go ahead.
And all our historical backers, shareholders, they actually kept on supporting the business. And whilst we were dealing with the same counterparty, the same pensionfund, some of their constituents, some of the underlying boards, disagree on the approach to take there. CHABRAN: Yes, that’s right.
Through strong organic growth and scaling of our private markets and technology platforms, we believe we can drive compelling earnings growth and multiple expansion for our shareholders. Through our iShares and indexing platforms, we've developed long-standing relationships, highly aligned shareholder relationship with global corporates.
Operator instructions] At this time, I'd like to turn the conference over to Weston Tucker, head of shareholder relations. Weston Tucker -- Head of Shareholder Relations Great. Also note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Blackstone fund.
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