Jeff Schwartz

And then our third fund was an equity fund all around the same size, focused on the same part of the marketplace so that we could leverage the relationships and the reputation that we built in that part of the marketplace without necessarily outgrowing our strategy.

So every two or three years, we are raising the subsequent fund in the series of that strategy.

So the last fund that we closed was an equity fund.

The next fund that we're raising is in our special situations, distressed and special situation series.

And then after that, we will raise our next private credit fund.

So every two or three years, we are raising a new fund from some similar investors and some different investors.

And we're at a stage where

Each of the funds that we are operating is at a different stage in their lives.

So while one fund is in the investment stage, another fund is fully invested and in the harvest mode.

And the third fund is close to fully harvested and in the fundraising mode.

So each of the different strategies are at a different point in their investment life, if you will.

We built a really strong team over the years with very low turnover.

And the senior people with the

with the firm have been here for a long time.

They started as fairly junior investment professionals and they've been trained and grow with us.

So they understand our DNA and our investment strategy and our approach to risk adjusted return.

I have a partner with whom I have a very close relationship who I worked for at Aries for many years.

And he's my partner and our chief investment officer.

So the two of us really together run the firm and sit on top of all of the investment strategies who have respective deal leads and deal teams.

But one of the things that we've done at the firm that I think is unique is