Why an inflection point? What led to Split or Toma Bravo being its own thing? So Golder,

Toma added a third partner eventually called Cressy and then a fourth called Rauner.

That's GTCR.

So that's GTCR today.

Everybody knows, most people know GTCR, great firm.

We have a lot of friends over there.

We have this common DNA.

But it was really this sense that somehow most industries are ultimately going to be kind