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Also participating in the Q&A portion of the call is Nick Meserve, managing director and head of Main Street's Private Credit Investment Group. This document is available on the Investor Relations section of the company's website at mainstcapital.com. Net asset value, or NAV -- or NAV, increased by $0.77 per share or 2.6%
Also participating in the Q&A portion of the call are Jesse Morris, chief operating officer; and Nick Meserve, managing director and head of Main Street's private credit investment group. This document is available on the investor relations section of the company's website at mainstcapital.com. at year-end. times and 2.1
The well-documented chronic housing shortage is the result of years of underproduction. This shortage is exacerbated by continuing shortfalls in production driven by now muted demand together with already existing restrictive land permitting and higher impact fees at local levels and higher construction costs across the housing landscape.
Also participating for the Q&A portion of the call is Nick Meserve, managing director and head of Main Street's private credit investment group. This document is available on the investor relations section of the company's website at mainstcapital.com. After which, we'll be happy to take your questions.
Also participating for the Q&A portion of the call is, Nick Meserve, managing director and head of Main Street's Private Credit Investment Group. This document is available on the Investor Relations section of the company's website at mainstcapital.com.
Also participating for the Q&A portion of the call is Nick Meserve, managing director and head of Main Street's Private Credit Investment Group. This document is available on the Investor Relations section of the company's website at mainstcapital.com.
For a detailed discussion of risk factors and non-IFRS measures, please refer to our disclosure documents on the IR section of our website. Now, let me introduce the management team on the webinar tonight. We further enhanced our operating profit growth from gross profit growth through operating leverage.
We reported another strong quarter of results for Blue Owl this morning with 12 straight quarters in consecutive managementfee and FRE growth since we've been a public company. Managementfees are up 22% and 92% of these managementfees are from permanent capital vehicles. AUM not yet paying fees was $16.8
Our earnings release documents are available on the Investor Relations section of the bankofamerica.com website. I hope everyone's had a chance to review those documents. billion growing 8% over the prior year, led by 14% growth in asset managementfees that Brian highlighted earlier. 3 investment banking fee position.
Our earnings release documents are available on the investor relations section of the bankofamerica.com website, and they include the earnings presentation that we'll make reference to during this call. I hope everyone's had a chance to review the documents. The good news is we created operating leverage in the quarter.
Earnings documents, which include our forward-looking statement disclaimer and non-GAAP information, are available in the investor relations section of our website. And finally, wealth management had maybe the best year it's had, certainly in some time, and we expect wealth managementfee revenue to continue to grow in 2024.
Also participating for the Q&A portion of the call is Nick Meserve, managing director and head of Main Street's Private Credit Investment Group. This document is available on the Investor Relations section of the company's website at mainstcapital.com. Fee income decreased 1.4 NAV per share increased by $0.46 times to 0.9
And moving forward, we expect to leverage our investment to support margin expansion while continuing to innovate and lead other parties in in technology. In terms of the -- we have a document creation and review process that we that we are working on improving. Now I'll move to some highlights from the first quarter.
As usual, our earnings release documents are available on the investor relations section of the bankofamerica.com website, and they include the earnings presentation that we will be referring to during this call. I trust everybody's had a chance to review the documents. And our supplemental leverage ratio was 6.1% billion in Q4.
We are proud of the effort our team went through to document all of the different activities, initiatives and investments we've made throughout our company and our portfolio. It's prudent to reduce leverage -- but Jeff, I think you indicated before at NAREIT that you thought raising equity in the $25 to $27 range would be appropriate.
It was reported that a multifamily broker had some issues with loan documentation and other things, specifically with Freddie Mac. Jade Rahmani -- Keefe, Bruyette and Woods -- Analyst Thank you very much. I want to start off with a question around the industry and some news this week.
For a detailed discussion of risk factors and non-IFRS measures, please refer to our disclosure documents on the IR section of our website. Let me now introduce the management team on the webinar tonight. In terms of wealth management services, I think it will continue to grow for the reasons that I talked about earlier.
Please refer to the documents filed by the company with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Moving on to rent collection.
Limited partners are gravitating towards Independent Sponsors given their lower managementfees, and the flexibility that comes with co-investing on a deal by deal basis. Leveraging the Axial member profile allows sponsors to improve their online brand presence.
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. To generate $46.4 Our operating expense ratio was 27.5 bps in fiscal 2023.
Our earnings release documents are available on the Investor Relations section of the bankofamerica.com website, and they include the earnings presentation that we will make reference to during the call. I hope everyone has had a chance to review those documents. 3 investment banking fee position globally.
Please refer to the documents filed by the company with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The decrease was partially offset by a 4.6 With that, I'll turn it back to Alan.
portfolio, helping us to drive document negotiations and control the dialogue with borrowers, if any challenges arise. Notwithstanding the temporary impact from these fee holidays, managementfees increased 5% year over year to a record $1.8 Fee-related earnings were $1.1 BXP exited its fee holiday this month.
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