“We indicated that the pace could slow over the balance of the year, but we do have about 20 offerings in market on diversified basis across asset classes where we're actively looking to raise funds.”

In context

“l go next to Dan Fannon with Jefferies. Daniel Fannon: Thanks. Good morning. Wanted to follow up on the third-party fundraising. You had another great quarter, but certainly highlighted that a bit slow this year, and I guess that's not surprising given the environment. But could you talk kind of longer term, as you think about maybe a rebound as the economic conditions pick up? And also, the cycling of your vintages of funds in terms of what could be coming on line this year that might result in continued strength or some pockets of slowness as you kind of go through that cycle? Denis Coleman: So thanks a lot for the question. Obviously, this remains a big area of strategic focus for us. With $14 billion raised in the first quarter and now up to $193 billion, we feel very good about that. We indicated that the pace could slow over the balance of the year, but we do have about 20 offerings in market on diversified basis across asset classes where we're actively looking to raise funds. I think it's really the breadth and the diversity of our franchise that's going to enable us to continue to raise those types of assets. Different strategies will play towards different types of environments and having the breadth of offering, I think, is proving to be beneficial. So even though we indicated it may slow later in this year, strong conviction that we'll be on pace for the total amount that we had indicated, just given what we see across our platform. David Solomon: And I'd just say, Dan, that one of the things that happens in this business is as you scale and you have the breadth that we have in this business, we set a target for 2024, but there is a longer-term goal on target, and there's lots of room for us to grow and continue to expand our footprint and position given t”