David Haber

Also, I imagine, very complicated, both...

kind of tactically, but even culturally, I imagine.

You talk about kind of firm dynamics and how do you kind of create incentives for people in a given fund to care about other funds.

I imagine going public, you know, part of that is you're creating a new currency in some ways by which to compensate people.

You have kind of, you know, LPs, you have employees, you have...

you know, public shareholders.

Maybe just talk through the IPO and all those dynamics.

You know how it is.

Totally.

No, I remember we had lunch once and you said, yeah, I literally like went into a room and it was deciding who was going to become a billionaire, you know, on the other side of the IPO.

Exactly.

It's kind of blows my mind.

The other thing that I imagine being a public company then gave you was currency that you could then use to acquire other businesses.

And again, one of the folks I spoke to was Bennett Goodman, the G in GSO.

I know he had worked for you, obviously, at DLJ.

He had then, I guess, gone off and built GSO, which was a small credit business at the time.

Maybe talk through that acquisition.

Obviously, it became kind of the basis of a much bigger credit business.

Was there anything non-obvious about what made those acquisitions work?

Like, you know, kind of the industrial logic or the culture?