I think that when we see opportunities, we're going to continue to act. I would anticipate that whatever we do would be consistent with these six or seven things we've done over the last few years, where we've either bought teams in or bought businesses that we think we can scale over time attractively, economically and accretively to the unitholders.

And also teams that work well within the firm and that have a lot of synergies for research point of view and all the kinds of services that our clients want, so expect us to continue to do that. I think in terms of the opportunity set, I wouldn't say that it's really changed much. The opportunity set seems to be consistent over the last few years. There is lots of reasons why firms want to change their ownership or to become part of a large organization.

I think we're on some of the large platforms, meaning that both the wire houses and the large IRA platforms. We're not on all. There is discussion at some of the larger distributors around how to actually sell these products, what the right processes are, how to disclose them, how to train their FAs. I think that is going on for the industry that's a net good thing. It may slow the distribution right now, but it will accelerate it overtime.

I mean there are highly attractive attributes to the long/short world for the investor. If the manager is able to select long/short managers that produced appropriate returns, given that you can generally get returns that are attractive from a sharp ratio point of view at less volatility than the equity market and effectively capture more of that equity risk premium I was just talking about, with a little less risk than having it all on the equities.

There is real value to that and I think that that's something that distributors are trying to understand and wealth advisors to trying to figure out how to talk to their clients about it. So I'd say, we're in early innings of the general distribution system, figuring that out. And as it relates to us specifically, I'm pretty happy with where we are and we've got a lot of momentum and being able to expand that.