Thoughts?

Yeah, so the private credit asset class has been one of explosive growth over the last, you know, decade or so.

It was almost, you know, zero dollar asset class, and now it's, depending on how you count, call it three trillion-ish.

So it had tremendous growth, and as happens in Almost every development in financial markets, it goes one way or the other or both ways too far.

And so you had this explosive growth.

It was this kind of flavor of the month.

It was mostly institutional, mostly cash flow lending.

So I don't know if you want to touch on that, but in terms of what is the equivalent of liability management in the private credit world, and what do you see happening there over the next few years, if it's true that after a very long bull market in private credit, there may be some loans that need help?