Our business model has evolved since we began direct investing in 1989. Over time we have become very successful in raising third party funds and optimising the capacity of our balance sheet.
In 1994 we began investing third party capital for the first time. By 2000 we were managing more third party capital than balance sheet.
In 2010 75% of our investable capital came from third party investors and fund management continues to be at the heart of our business strategy.