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Why would you go to the added step of buying an ETF (which comes with managementfees), when you can already go to a cryptocurrency exchange like Coinbase Global and buy Ethereum directly? Do you really want your pensionfund or university endowment dabbling in a volatile, poorly regulated industry with significant risk of loss?
trillion of assets under management supporting defined benefit and defined contribution plans, PGIM serves more than half of the world's 300 largest pensionfunds. As a market leader with nearly $0.5 Turning to the operating results from our businesses compared to the year ago quarter. Our cash and liquid assets were $4.3
I know I speak for the entire BlackRock board of directors, BlackRock's leadership team, and all of our employees when I say we could not be more excited about the prospects of the BlackRock family with our colleagues from GIP. The integration will nearly double our private markets managementfees to over 1.5
In fact, virtually all of our drawdown funds we've launched in our history, have been profitable for our investors. Our performance has helped secure retirees' pensions, fund students educations, pay healthcare benefits, and protect and grow the savings of individual investors. Our prospects are accelerating.
And there is an additional $50 billion in prospective future development pipeline. In addition to insurance clients, pensionfunds and other LPs see the value we're creating in private credit, and there's been a strong response to our product offerings. Fee-related earnings increased 12% year over year to $1.2
In private credit, tightening credit conditions resulting from a handful of bank failures and rescues in the United States have opened up opportunities for non-bank players like pensionfunds, he said. Managementfees increased by $165 million, due to an increase in average assets managed by external fundmanagers.
An expansion of the CPP would transfer these risks from individual workers to the government, which is much better placed to manage them, as it can pool risks across all Canadian workers and across generations of workers. The CPP is also fully portable, making it easier to change jobs. This could not be less true today.
Our positioning has never been stronger nor our prospects brighter. economy, historically tight financing spreads, greater debt availability, the prospects of a more business-friendly regulatory climate and importantly, accelerating technological innovations have given us confidence to deploy capital at scale. I will catch it.
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