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It's important to realize that the Destiny Tech100 was not trading on publicexchanges in 2023. In fact, shares didn't hit the NewYorkStockExchange until earlier this year. Since going public about a month ago, the stock has risen close to 1,000% -- from $9 to as high as nearly $100.
We finished 2023 on a strong note with another consecutive quarter of managementfee and FRE growth, 11 for 11 since we've been a publiccompany, against a market backdrop that has been exceptionally volatile and uncertain. Managementfees were up 26%, and 92% of these managementfees are from permanent capital vehicles.
The combination triples infrastructure AUM and doubles private markets run-rate managementfees. This was due to the relative outperformance of lower fee U.S. equity markets and client preferences for lower fee U.S. The closing of GIP added $116 billion of client AUM and $70 billion of fee-paying AUM on October 1.
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