I'll start, and Mr. Cass can add to it.
On the 25 teams, we feel that it's important, again, to diversify, not just geographically, but across the types of investments and strategies that we have. We have specialists who look at different types of public market strategy. We have specialists who look at credit strategies, whether it's private credit or real estate credit. We have specialists who look at private equity, specialists who look at fund investments, and specialists who look at infrastructure, real estate, and other types of private investing around the world.
When you look at all the different strategies, it adds up. There are approximately 25 different strategies. We believe that those strategies can add value when we look at the risk-and-return profiles of those strategies over time.
On scale, when we're competing for larger investments there are fewer people competing for them, so we can find better value. Not always, but in certain strategies, we believe that you're in more rarefied territory where there's less competition. Therefore, we can demand better compensation for the risks we're taking on and better pricing. Scale helps us in quite a few strategies.