ased compensation =rom FRE this quarter. 4. =/span>The =ax rate aided the beat, at 13%, below the prior quarter and year =eriods. 5. =/span>Funds=VI & VII remain in escrow (although Fund VIII is out of escrow this =uarter), limiting future distributions from those =unds. 3 EFTA_R1_01910965 EFTA02662