Substantial Growth in New Business
Definitive commitments up more than 50%, overall portfolio up 15% year-to-date, with deployments up 61% in the third quarter.
Strong Portfolio Performance
IRRs remain steady at 26% on $3.6 billion of realizations, with a 43% ROIC achieved in 2025 despite a large event ending quickly in Q1.
Diverse and Expanding Portfolio
The portfolio shows significant diversity in geography and case type, contributing to the robustness and growth potential of the business.
Positive Asymmetry in Case Outcomes
No large case losses, with 4 large case wins potentially generating over $100 million each, indicating strong forward momentum.