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The new rules require private funds to issue quarterly fee and performance reports, and to disclose certain feestructures while barring giving some investors preferential treatment over redemptions and portfolio exposure. One thing I didn't cover is leverage. The industry manages around $20 trillion in assets.
And now looking at our capital structure, please refer to Slide 8. Our net leverage remained low relative to our peers at 3.6 And so, when you look at the demand profile, I think pricing will continue to remain very, very firm. times our annualized adjusted EBITDA. Our balance sheet decreased approximately $31.9
When I was at Penn, I worked at a lawfirm one summer. If you’re making a directional bet, or even worse, a leveraged directional bet, and you’re your funds going to suffer. I have felt this is the most meritocratic industry that I have ever been a part of. And I’ve been working since I was 14. RITHOLTZ: Right.
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