Benjamin Budish

“I wanted to follow up on, I think this was Glenn's question from earlier. I think he had asked about Blackstone's concentration in AI. I'm curious if you could talk about how your insurance LPs are thinking about, you know, concentration and AI related debt.”

“And even again, the way I think the narrative is today, there's a lot to like about the wealth channel over the medium and long term now that's really great color appreciate the fulsome response and perspectives thanks your next question comes from a line of Bill Katz from TD Cowan your line is open great thank you…”

“You addressed this a little bit earlier in the discussion around realizations, but I'm curious if you could unpack a little bit more what you're seeing specifically in terms of sponsor and strategic-backed M&A. It feels like this is part of the market.”

“You addressed this a little bit earlier in the discussion around realizations, but I'm curious if you could unpack a little bit more what you're seeing specifically in terms of sponsor and strategic-backed M&A. It feels like this is part of the market.”

“Alan, I was wondering if you could talk a little bit more about the FRE margin outlook for the year. I know in Q4, actually, if you could unpack that a little bit as well, it looked like your FRE comp expense line steps down quite significantly.”