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This helps support the franchise, generates great returns for the house, and should increase enterprisevalue for both Sculptor and Rithm at the top of the house. And one of the things you'll see is the leverage of the overall platform. I believe performancefees typically occur end of year.
Scott Murdoch of Reuters aslo reports Blackstone to buy Australia's AirTrunk in US$16 billion deal: Blackstone will buy Australian data centre group AirTrunk for an implied enterprisevalue of over A$24 billion ($16.10 The deal triggers a large performancefee for ASX-listed Macquarie Group, which manages the fund.
So when you think about growth there, we're not just going to grow a business if we think we could deploy capital better in another area to increase enterprisevalue for the overall franchise. Michael, as the third quarter went through, I believe we typically get some annual performancefees that hit in Q4.
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