We work with management teams to understand business strategies and then develop capital structures to suit a given strategy. Our focus on operational flexibility and cash-on-cash returns typically leads us to employ less leverage than our peers while consistently delivering attractive risk-adjusted returns. Capital structure flexibility affords our portfolio companies the greatest opportunity to successfully execute their growth strategies. Additionally, we strongly encourage and help our management teams to deploy capital in accretive investments, as demonstrated by the $4.4 billion of capital we have arranged or provided for strategic add-on acquisitions.