The Future of Capital Markets

JM: We raised last year $350 million plus or minus. It was a great year for us. I think what we are going to see and it's just not an easy fundraising environment because certainly when you get to the institutions, there's a denominator fact. They own public securities or public equities. Those are down in value. You really need to create something that resonates with them. And so we are sort of excited about seeing that part of it in terms of being able to take advantage of those opportunities.