John Block

Yeah, we target private equity type returns.

which for us that means we try to achieve or exceed the 3X over five years type returns is what we target and push for.

And so that looks like kind of 25% IRR is a good target range for us.

And we try to find teams and leaders that can align around a path to exceed that is what we attempt to target.

Yeah, I think across the portfolio, you do get a dispersion of results.

So I think exactly what you said is fair.

Not everything follows the exact same path.

That comes back to what we started with talking about when you asked the question about

different markets in different times that go through ups and downs.

And we just kind of look at our businesses and say, we owe it to each one to push forward and drive to the best outcome for each one day in and day out.

That's our duty to our investors, our duty to our companies.

And so that's what we push to do.

But there is always going to be a dispersion, a dispersion of performance across the fund.

Absolutely.

We love partnering with founders.

We do it all the time.

The one thing I would say is we start by saying partner with strong, ambitious leaders and say typically and oftentimes is the founder.

But for us, it doesn't have to be.

We care most about having a strong, ambitious leader at the front of a company.

But we partner often with founders.