19 unchanged sentences
Global Credit 170.3 (146.8)
−Removed: Investment Solutions 180.3 (173.5)
+Added: Global Investment Solutions 219.1 (204.7)
Total $ 2,065.3 $ (2,269.8)
4 unchanged sentences
Global Credit 159.2 (142.2)
−Removed: Investment Solutions 170.4 (158.0)
+Added: Global Investment Solutions 207.1 (192.8)
Total $ 1,857.0 $ (2,067.0)
11 unchanged sentences
$ 59,694 97 %
−Removed: Investment Solutions $ 34,489 94 %
+Added: Global Investment Solutions $ 43,012 95 %
(1) Comprised of approximately $33.0 billion (100% Level III Investments) in our structured credit products, $10.5 billion (96% Level III Investments) in our carry funds, $10.3 billion (89% Level III Investments) in our managed accounts/other products, and $5.9 billion (94% Level III Investments) in our direct lending products.
7 unchanged sentences
dollar currencies.
−Removed: We estimate that as of December 31, 2020, if the U.S.
−Removed: dollar strengthened 10% against all foreign currencies, the impact on our consolidated results of operations for the year then ended would be as follows:
−Removed: (a) fund management fees would increase by $35.6 million, (b) performance allocations would increase by $19.4 million and (c) principal investment income would increase by $9.3 million.
+Added: We estimate that as of December 31, 2021, if there was a 10% decline in the rate of exchange of all foreign currencies against the U.S.
+Added: dollar, the impact on our consolidated results of operations for the year then ended would be as follows:
+Added: (a) fund management fees would decrease by $42.8 million, (b) performance allocations would decrease by $173.6 million and (c) principal investment income would decrease by $6.2 million.
Interest Rate Risk
1 unchanged sentence
Interest rate changes may therefore affect the amount of interest payments, future earnings and cash flows.
−Removed: The CLO term loans incur interest at EURIBOR or LIBOR plus an applicable rate.
+Added: The CLO term loans incur interest at EURIBOR plus an applicable rate.
We do not have any interest rate swaps in place for these borrowings.
2 unchanged sentences
We minimize our risk exposure by limiting the counterparties with which we enter into contracts to banks and investment banks who meet established credit and capital guidelines.
−Removed: We do not expect any counterparty to default on its obligations and therefore do not expect to incur any loss due to counterparty default.
+Added: not expect any counterparty to default on its obligations and therefore do not expect to incur any loss due to counterparty default.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.