The Different Types of Alternative Asset Classes

The theme that we're hearing the most about right now is private credit. That's an area where family offices are really probably the most underweight so they actually showed only a 3% allocation to private credit. And then I would say the last thing is when you think about the interest rate environment that we came out of and most private credit being subject to ordinary income on an after tax basis it just hasn't been as compelling particularly US investors than other assets.