The Dislocation of Family Offices in Real Estate

You mentioned real estate earlier as an area focus. It's often an area focus for family offices, but another sector that has some opportunities and parts of it also under duress. What are you seeing in terms of family offices, real estate investments at this point? Yeah. So families have usually had a significant allocation to real estate. Most families have one. And so 60% of families plus their real estate directly. And then they also invest in funds. That's really to give them the diversification across geographies; sub asset classes within real estate. But I would say that these families know, even if it is in office or retail, not all real estate is created equally. They