Marc Rowan

We can only invest as fast as we originate, as fast as we create.

And therefore, I believe that we should be judged by our capacity to create assets

interesting investments and i believe our capacity to create interesting investments is limited

We are not limited ultimately by capital.

We are limited by our capacity to create.

And so a couple of things come out of that.

If every asset we create is what's in short supply, as a business owner, as a business builder, as a strategist, I want to make more money from each asset.

So yes, I like running assets for a fee, but I also want to be a principal.

I want to own the upside for as much of the asset as the market will allow me to do.

And the more interesting thing is clients

who are dabbling in private markets, who don't always have the same information that you have, who have, on a fiduciary basis or a non-fiduciary basis, asked you to manage their money, they like the alignment.

There is nothing like being a partner with your clients, eating your own cooking, whatever the expression is.

And so for valid strategy reasons of assets are in short supply, I want to earn more money.

For external reasons, I want to be aligned with my clients.

Having a big capital base

I believe to be important.

And I've started saying this, you know, there's been this debate in our marketplace between capital light and capital heavy.

I think we should be unapologetic because I look at the world that we're about to enter and change is a constant, but this pace of change is even faster than we've ever had it.

In the world we're entering, what has value?

On the one hand, I think brand and reputation have value.