Marcel Erni

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group Direct Equity V (EUR) SCA SICAV-RAIF operates as a closed-end investment fund or Investment trust. The company was founded by Marcel Erni and Fredy Gantner on October 14, 2021 and is headquartered in Luxembourg.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group Direct Equity V (EUR) SCA SICAV-RAIF operates as a closed-end investment fund or Investment trust. The company was founded by Marcel Erni and Fredy Gantner on October 14, 2021 and is headquartered in Luxembourg.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group Direct Equity V (EUR) SCA SICAV-RAIF operates as a closed-end investment fund or Investment trust. The company was founded by Marcel Erni and Fredy Gantner on October 14, 2021 and is headquartered in Luxembourg.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group Direct Equity V (EUR) SCA SICAV-RAIF operates as a closed-end investment fund or Investment trust. The company was founded by Marcel Erni and Fredy Gantner on October 14, 2021 and is headquartered in Luxembourg.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.

Ammega Group BV is a holding company, which engages in the manufacture of light-weight belting products. The company is headquartered in Alkmaar, Netherlands.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

GlobalLogic, Inc. provides software solutions and development services. It operates as a digital product engineering firm. Its services include experience design, product engineering, digital services, labs, and content engineering. The firm operates design studios and engineering centers that specializes in offering customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. The company was founded by Sanjay Singh, Manoj Agarwala, Rajul Garg, and Tarun Upadhyay in 2000 and is headquartered in San Jose, CA.

Telepass SpA engages in the provision of electronic toll payment solutions. It offers motorway tolls, car park facilities, and integrated systems for urban and extra-urban mobility. The company was founded on December 28, 2007 and is headquartered in Rome, Italy.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group (Private Equity) (Partners Group-PE) is the private equity division of Partners Group AG, itself a subsidiary of Partners Group Holding AG (SW: PGHN), founded in 1996. It is headquartered in Baar, Switzerland. The firm seeks opportunities to create value through working with investee management teams to expand their businesses and attain leadership positions in their markets. Partners Group-PE aligns interests by investing alongside clients.

Partners Group AG (Partners Group) is the alternative investment management subsidiary of Partners Group Holding (SWX: PGHN) in Switzerland. Founded in 1996 by Marcel Erni, Alfred Gantner and Urs Wietlisbach, the firm is based in Zug and manages a range of funds, structured products and customized portfolios for institutional investors.