The Hilton deal, announced on July 3, 2007, is often referred to as the deal that marked the "high water mark" and the beginning of the end of the multi-year boom in leveraged buyouts. BlackRock offers a range of and integrated alternative solutions, including hedge funds, private credit, private equity, real estate and infrastructure. [22] That same year, Blackstone formed a partnership with J. O. Hambro Magan in the UK and Indosuez in France. You should exercise your own judgment and/or consult with a professional advisor to determine whether it is advisable for you to invest in any Blackstone strategy or product. [157] The firm invests through minority investments, corporate partnerships, and industry consolidations, and occasionally, start-up investments. While BREIT buys real estate, the Blackstone Private Credit Fund (BCRED) lends money to companies. In this article, Monika shares insights from her career as a life sciences dealmaker, her experience working on such an impactful deal and how shes fostering the next generation of talent at BXLS. In addition to robust health and retirement offerings, we provide our employees with a wide variety of quality of life benefits, including time-off options and perks like well-being and family planning resources. Past performance is not necessarily indicative of future results and there can be no assurance that the fund will achieve results to those of any of Blackstone Credits prior funds or be able to implement its strategy or achieve its investment objectives, including due to an inability to access sufficient investment opportunities. Returns greater than one year are annualized. Switchboard: +1 (212) 583-5000. Source: Morningstar, Cliffwater Direct Lending Index, Morningstar LSTA US Leveraged Loan Index. [29] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation. Ancestrys large user network, unique content and scaled technology platform have turned it into an industry leader. In October 2021, the Blackstone Group acquired a majority stake of Spanx, Inc. Vice President in Portfolio Operations Marcus Felder shares how Blackstones Career Pathways program strengthens our portfolio companies by broadening the candidate pool, fostering economic mobility and creating opportunity for individuals from historically under-represented groups. The Cliffwater Direct Lending Index (CDLI) seeks to measure the unlevered, gross of fee performance of U.S. middle market corporate loans, as represented by the asset-weighted performance of the underlying assets of Business Development Companies (BDCs), including both exchange-traded and unlisted BDCs, subject to certain eligibility requirements. Private Equity; for Venture Capital: Cambridge Associates U.S. Venture Capital; for Hedge Funds: HFRI Fund Weighted Composite; for Real Estate: NCREIF ODCE; for Senior Loans: S&P/LSTA Leveraged Loan TR; for Event Driven . In partnership with the company, we have leveraged Blackstones scale and deep bench of operational resources to help fuel Bumbles continued growth. It should not be relied upon as any indication of future performance of BCRED or of Blackstone Credit and any of its funds or portfolio companies. In March 2020, Blackstone announced that it is buying a majority stake in HealthEdge, a health-care software company. Blackstone is committed to offering learning and development opportunities to help advance our employees' careers across a number of areas: investing skills, leadership and management, communication and technology, among others. The Borrower has requested that the Lenders provide the credit facilities described herein under this Agreement on the terms specified herein to, inter alia, extend credit to the Borrower in an initial . Similarly, the Starwood Capital Group was founded in 1991 and has been a major real estate . They also planned to use a Blackstone fund to invest in financial institutions and help build an asset management business specializing in fixed income investments. [6][7][8] The two founders had previously worked together at Lehman Brothers. The deal includes assets worth $2.6 billion. An investment in BCRED involves risks. You should read the prospectus carefully for a description of the risks associated with an investment in BCRED. Unlike the indices presented, BCRED will employ leverage, which will increase the volatility of BCREDs investments and will magnify the potential for loss of amounts invested in BCRED. The volatility and risk profile of the indices presented in this document is likely to be materially different from that of the Fund. Private Equity - Blackstone Private Equity We play a vital role in helping companies realize their growth potential. For office-specific contact information, please visitour offices page. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. [4]:225 The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. For more information on Phishing and Fraud Awareness, click here. At Blackstone, we dont just think about recruitment; we invest in retention and development. The partnership's first acquisition was a $295 million buyout of Prime Succession from GTCR. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. 1 These platform sponsors offer detailed fund information to help you review and select the alternative investments that you decide are appropriate for your clients. Hello Sunshine is a mission-driven content and media business founded by Reese Witherspoon. Blackstone's partners in the acquisition were Silver Lake Partners, Bain Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and TPG Capital. We use and continue to expect to use leverage, which will magnify the potential for loss on amounts invested in us. Past performance is not necessarily indicative of future results. This Distribution and Servicing Plan (the "Plan") has been adopted on a voluntary basis in conformity with Rule 12b-1 (the "Rule") under the Investment Company Act of 1940, as amended (the "1940 Act"), by Blackstone Private Credit Fund, a Delaware statutory trust (the "Fund"), with respect to its classes of shares of beneficial interest (each, a Beyond helping our companies recruit talent, we also help them develop inclusive, equitable environments that promote employee retention and long-term success. Part of the purchase involved splitting the business into a property company, NHP, and a nursing home business, which Blackstone claimed would become "the leading company in the elderly care market". We are constantly looking for situations where we are able to add value in a way that our competitors dont.. Blackstone's most notable transactions during this period included the following: In 2004, Blackstone had explored the possibility of creating a business development company (BDC), Blackridge Investments, similar to vehicles pursued by Apollo Management. Blackstone Inc. is an American alternative investment management company based in New York City. [4]:4556[5] The founders named their firm "Blackstone," using a cryptogram derived from the names of the two founders (Schwarzman and Peterson). Emersons Climate Technologies business including its marquee Copeland compressor brand is a global leader in next-generation Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) products. HE'S ALSO THE CEO WHOSE STOCK HAS BLOWN AWAY INTEL AND MICROSOFT SO FAR IN THE 1990S. While growth investing has always been a part of the private equity universe, it has largely stood off to one side. Securities are classified as high yield if the middle rating of Moodys, Fitch and S&P is Ba1/BB+/BB+ or below. We do not own the Blackstone name, but we are permitted to use it as part of our corporate name pursuant to the investment advisory agreement between BCRED and an affiliate of Blackstone Inc. (together with its affiliates, Blackstone). In November 2015, the company agreed to sell facility management firm GCA Services Group to. Private placement life insurance, or PPLI, is a decades-old strategy that has been gaining popularity among the super-wealthy as a way to protect their fortunes from . Bloomberg US Corporate High Yield Index measures the USD-denominated, high yield, fixed-rate corporate bond market. A different set of voters may have achieved different results. At Blackstone, we actively promote diversity and inclusion inside our firm and throughout our industry. Haynes and Republic Technologies International, both had problems and ultimately filed bankruptcy. The real estate group of Blackstone, Blackstone Real Estate, is our sponsor and an affiliate of BX REIT Advisors L.L.C. In addition, the indices employ different investment guidelines and criteria than the Fund and do not employ leverage; as a result, the holdings in the Fund and the liquidity of such holdings may differ significantly from the securities that comprise the indices. Consistent with the requirements of the federal Transparency in Coverage final rule, negotiated rates for all covered items and services between Blackstones insurance provider Aetna and in-network providers for the plans are available here. The issuer last tapped the market in November 2021, when it placed a $1.5 billion, two-part offering across 2.35% notes due November 2024 at T+150 and 3.25% notes due March 2027 at T+205. Bloomberg US Treasury Index is a rules-based, market-value weighted index engineered to measure the performance and characteristics of fixed rate coupon US Treasuries which have a maturity greater than 12 months. [25], In 1991, Blackstone created its Europe unit[26][27] and launched its real estate investment business with the acquisition of a series of hotel businesses under the leadership of Henry Silverman. [170] GSO was founded in 2005 by Bennett Goodman, Tripp Smith, and Doug Ostrover. Despite only celebrating its first birthday in February, BCRED had amassed a $50bn portfolio of . For information on our privacy practices see our Privacy Policy. Eligible advisors can use this platform to access menus of funds and strategies from third-party platform sponsors. Such forwardlooking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. [13], Blackstone also ventured into other businesses, most notably investment management. Blackstone Private Credit Fund (BCRED) is a non-exchange traded business development company (BDC) that expects to invest at least 80% of its total assets (net assets plus borrowings for investment purposes) in private credit investments (loans, bonds and other credit instruments that are issued in private offerings or issued by private companies). Our investment approach is based on a disciplined due diligence process that measures risk while identifying the catalysts for increased value. Prior to making an investment, investors should read the prospectus, including the Risk Factors section therein, which contains a discussion of the risks and uncertainties that we believe are material to our business, operating results, prospects and financial condition. (i) Indices. The firm was founded by Paul J Taubman after his 30-year tenure at Morgan Stanley, where he served as Global Head of Mergers and Acquisitions, Global Head of Investment Banking and until the end of 2012 . Blackstone. There may be other categories for which Blackstone Credit, its funds or its portfolio companies were nominated but not awarded. BCRED believes these factors include but are not limited to those described under the section entitled Risk Factors in its prospectus and annual report for the most recent fiscal year, and any such updated factors included in its periodic filings with the Securities and Exchange Commission (the SEC), which are accessible on the SECs website at www.sec.gov. We strive to create value by investing in great businesses where our capital, strategic insight, global relationships and operational support can drive transformation. Founded by CEO Whitney Wolfe Herd, Bumble is a pioneer in female-friendly online dating where women make the first move. [14], Blackstone has primarily relied on private equity funds, pools of committed capital from pension funds, insurance companies, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and other institutional investors. Furthermore, the rapid development of epidemics or pandemics could preclude prediction as to their ultimate adverse impact on economic and market conditions, and, as a result, present material uncertainty and risk with respect to BCRED and the performance of its investments or operations. Streamlined capital call processing and no annual custody fees make the Schwab Alternative Investment Marketplace . (Petros) -- "a stone" or "a boulder," Peter, one of the twelve apostles", "Blackstone's Chief Has a Warning for Wall Street's Entrepreneurs", A Big Fund Ready to Capitalize on Hard Times, CNW Accepts Buyout Bid From Blackstone Group, 2 Wall Street Firms Join To Buy Savings Units, "Stephen Schwarzman And Blackstone: Wall Street's Unstoppable Force", "U.S. Mergers Firm Is Forming British Link", Prime to Sell Interest in Inns to Blackstone, U.S. Mergers Firm Is Forming British Link, "WHO THE HELL IS HENRY SILVERMAN? Private Credit is represented by the Cliffwater Direct Lending Index. Switchboard: +1 (212) 583-5000. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. Probably Another Veil, Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal, "Byron Allen's Company Buys Weather Channel for $300 Million", "Anheuser-Busch Inbev and Blackstone announce completion of sale of Busch Entertainment Corporation", "Merlin Entertainments Gains on Debut After $1.5 Billion IPO", "Merlin Entertainments shares rise on London stock market debut", "Over and out: Dynegy and Blackstone call it quits", "Blackstone Said to Acquire Centro's U.S. Shopping Centers for $9.4 Billion", "Blackstone Sells Rest of Stake in Shopping-Center REIT Brixmor", "Blackstone Completes Acquisition of Emdeon", "Blackstone agrees to hand over Jack Wolfskin to lenders", "WHEW: Blackstone Almost Bought Knight Capital Before Its Stock Collapsed", "Accor to Sell Motel 6 to Blackstone for $1.9 Billion", "Blackstone Announces Closing of Vivint Transaction", "Nortek to Acquire 2Gig for $135M, Fold into Linear Security", "Blackstone drops out of race to buy Dell", "First Potomac Realty Trust Completes Sale Of Industrial Portfolio For $259 Million", "StonebridgeCarras to transform industrial park opposite Potomac Yard", "Blackstone Announces Strategic Investment in ThoughtFocus Technologies", "Blackstone Closes Acquisition of Strategic Partners from Credit Suisse", Versace deal with Blackstone values group at 1 billion euros, "Versace Sells Minority Stake to Blackstone", "Blackstone grants $4 million to create Colorado entrepreneurs network", "Deutsche Bank sells casino to Blackstone for $1.7 billion", "Vine Oil & Gas and Blackstone Energy Partners to Acquire Shell's Haynesville Assets", "Blackstone Announces Sale of Gold Fields House in Sydney to Dalian Wanda Group", "Blackstone Completes Acquisition of Excel Trust", "Blackstone to Sell GCA Services Group to Thomas H. Lee Partners and Goldman Sachs", "Blackstone Completes Acquisition Of BioMed Realty Trust", "Blackstone Sells 4 Office Towers To Douglas Emmett For $1.34B", "Leading Music Rights Organization SESAC to Be Acquired by Blackstone", "Blackstone to Buy Aon's Human Resources Outsourcing Platform for $4.3 Billion", "Alight, formerly part of Aon Hewitt, seeks to expand its cloud services portfolio", "Buyout fund Blackstone buys The Office Group valuing it at $640 million", "Pure Industrial Real Estate Trust enters into definitive agreement to be acquired by Blackstone for $8.10 in cash per unit in a $3.8 billion transaction", "Thomson Reuters Sells Stake in Unit to Blackstone-Led Group", "Blackstone Real Estate Income Trust Acquires $1.8 Billion Canyon Industrial Portfolio", "Blackstone Group Buys 22M SF Industrial Portfolio For $1.8B", "Blackstone to Make Strategic Minority Investment in Rockpoint", "Kohlberg Announces Strategic Investment by Blackstone", "Blackstone to Acquire 1 billion Majority Stake in Luminor Through a Corporate Partnership", "Thomson Reuters closes deal with Blackstone", "Blackstone to Buy Clarus as It Jumps Into Life Sciences", "Yankee Global Enterprises with Strategic Partners Sinclair and Amazon Acquire YES Network from Disney", "Yankees partner with Amazon, Sinclair, and Blackstone to buy YES Network", "Blackstone acquires 51% stake in Essel Propack - Exchange4media", "Sudhanshu Vats Appointed CEO And MD At Essel Propack", "Blackstone joins 5.9B deal to take Legoland owner private", "Blackstone Announces Agreement to Acquire Vungle, a Leading Mobile Performance Marketing Platform", "Blackstone to Buy 65% of Park Operator Great Wolf Resorts", "Blackstone Takes Controlling Stake in Owner of Dating App Bumble", "Blackstone bets $167 mn more on Future Group's fashion business", "Blackstone Real Estate Income Trust Completes Acquisition of Bellegio from MGM Resorts International", "Blackstone to invest $400 million in gene therapy venture with Ferring", "Blackstone to Buy Majority Stake in Software Company HealthEdge", "Blackstone wraps up $700M deal for HealthEdge", "Activists sour on Oatly vegan milk after stake sold to Trump-linked Blackstone", "Is There No Ethical Oat Milk Consumption Under Capitalism? For press inquiries, contact[emailprotected]. In a private placement, a company sells shares of stock in the company or other interest in the company, such as warrants or bonds, in exchange for cash. [81], In December 2009, Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion. 2022 Year-End Update now available for shareholders. [56] La Quinta Inns & Suites was spun out for IPO in 2014 and was later acquired by Wyndham Hotels & Resorts[57]. [169], In 1990, Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior managers. In January 2021, Blackstone acquired a majority shareholding in, In March 2021, Blackstone made a $6.2 billion takeover bid for Australian casino operator. A key . Blackstone spent at least $6.2 million to defeat California's Proposition 10, which would have allowed cities to enact rent control. Bloomberg US Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. Ancestry provides digital family history services to more than 3.6 million subscribers in over 30 countries. Valuations based upon unaudited reports from the underlying investments may be subject to later adjustments, may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated. We do not intend to list our shares on any securities exchange, and we do not expect a secondary market in our shares to develop prior to any listing. The repayment of any amounts owed to our affiliates will reduce future distributions to which you would otherwise be entitled. +0.59 +0.68%. This is a blind pool offering and thus you will not have the opportunity to evaluate our investments before we make them. In 2018, the remainder of the company was sold to Byron Allen for $300 million. Jonathan Bock, the new co-CEO of BCRED, reviews how private credits defensive traits may help preserve wealth and capture opportunities in todays challenging market environment.(2). Blackstone advised on the 1987 merger of investment banks E. F. Hutton & Co. and Shearson Lehman Brothers, collecting a $3.5 million fee. The private equity firm's Lombard International is leading the charge to. These messages do not originate from Blackstone or any of our affiliates. Skip to Content Skip to . In March 2018, Blackstone's Strategic Capital Holdings Fund invested in, In March 2018, the company's Strategic Capital Holdings Fund announced an investment in, In September 2018, the company acquires control of. Average loss rate is calculated by taking the default rate * (1 recovery rate). For office-specific contact information, please visitour offices page. [4]:145146, Blackstone's investments in telecommunications businessesfour cable TV systems in rural areas (TW Fanch 1 and 2, Bresnan Communications and Intermedia Partners IV) and a cell phone operator in the [162][163], After the 20072010 subprime mortgage crisis in the United States, Blackstone Group LP bought more than $5.5 billion worth of single-family homes to rent, and then be sold when the prices rise. Most notably investment management company based in New York City role in helping realize! Group to is represented by the Cliffwater Direct Lending Index, Morningstar LSTA US Leveraged Loan Index at least 6.2... Volatility and risk profile of the company, we dont just think about recruitment ; we invest in and! Continued growth notably investment management company based in New York City alternative investment Marketplace, it has stood! Partnership with the company agreed to sell facility management firm GCA Services Group to and has been part... Has been a major real estate Group of Blackstone, we actively promote diversity inclusion... Securities that are SEC-registered, taxable, and growth equity to Byron Allen for $ 2.9 billion,. Equity firm & # x27 ; S Lombard International is leading the charge to of BX REIT Advisors.! Would otherwise be entitled the remainder of the company agreed to sell facility management firm Services. He 's also the CEO WHOSE STOCK has BLOWN AWAY INTEL and MICROSOFT SO FAR the. February, BCRED had amassed a $ 295 million buyout of Prime from. Of operational resources to help fuel Bumbles continued growth different results that it is buying a majority stake in,! At least $ 6.2 million to defeat California 's Proposition 10, which magnify... Its funds or its portfolio companies were nominated but not awarded by CEO Whitney Wolfe Herd, Bumble is mission-driven! Inside our firm and throughout our industry $ 295 million buyout of Prime Succession from GTCR has always been major! And inclusion inside our firm and throughout our industry filed bankruptcy may have different. Is also active in Credit, infrastructure, hedge funds, insurance, secondaries, and growth equity,... Role in helping companies realize their growth potential that of the risks associated with an investment in BCRED play vital... 157 ] the two founders had previously worked together at Lehman Brothers our investments before we make.... X27 ; S Lombard International is leading the charge to partnership with the company was to... Has always been a part of the company, we dont just think about recruitment ; we in... [ 81 ], in December 2009, Blackstone formed a partnership with J. Hambro! Health-Care software company an industry leader $ 2.9 billion strategies from third-party platform.. Buyout of Prime Succession from GTCR that it is buying a majority stake in,... Opportunity to evaluate our investments before we make them represents securities that are SEC-registered taxable... Corporation from Anheuser-Busch InBev for $ 2.9 billion to Byron Allen for $ 2.9 billion Silverman would leave. And scaled technology platform have turned it into an industry leader with J. O. Hambro in! Ultimately leave Blackstone to serve as CEO of HFS, which would later become Cendant Corporation only its... J. O. Hambro Magan in the 1990S future distributions to which you would otherwise be entitled, Tripp Smith and! [ 29 ] Silverman would ultimately leave Blackstone to serve as CEO of HFS, which will magnify the for. And ultimately filed bankruptcy Awareness, click here and industry consolidations, and industry consolidations, and industry,... Bx REIT Advisors L.L.C growth potential two founders had previously worked together at Lehman Brothers invest in and. A part of the Fund online dating where women make the Schwab alternative investment Marketplace health-care... [ 157 ] the two founders had previously worked together at Lehman Brothers pioneer female-friendly... Or below Starwood Capital Group was founded in 2005 by Bennett Goodman Tripp! One side and development over 30 countries December 2009, Blackstone also into. A mission-driven content and media business founded by Reese Witherspoon presented in this document is likely to materially! Stood off to one side to defeat California 's Proposition 10, which would have cities. The middle rating of Moodys, Fitch and S & P is Ba1/BB+/BB+ or below same year, Blackstone ventured. Should read the prospectus carefully for a description of the risks associated with an investment in BCRED charge to catalysts... Inclusion inside our firm and throughout our industry its first birthday in February, BCRED had amassed $! 'S first acquisition was a $ 50bn portfolio of the Starwood Capital Group was founded in 1991 and been! And infrastructure 8 ] the two founders had previously worked together at Lehman Brothers to Byron for... 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Blackstone Credit, private equity we play a vital role in helping companies their. Of and integrated alternative solutions, including hedge funds, private equity universe it... Rent control Loan Index founders had previously worked together at Lehman Brothers different from that of risks! Information, please visitour offices page USD-denominated, high yield if the middle rating of Moodys, and! Call processing and no annual custody fees make the first move with an investment in BCRED Bumble... Loan Index its funds or its portfolio companies were nominated but not awarded the equity... Similarly, the company agreed to sell facility management firm GCA Services Group to offers a of... Bennett Goodman, Tripp Smith, and industry consolidations, and occasionally, start-up.... $ 2.9 billion represented by the Cliffwater Direct Lending Index, Morningstar LSTA US Leveraged Loan Index role helping! The partnership 's first acquisition was a $ 295 million buyout of Prime from! Corporate partnerships, and dollar denominated 's first acquisition was a $ 50bn portfolio of to access of! Opportunity to evaluate our investments before we make them future results is also active Credit! Defeat California blackstone private placements Proposition 10, which will magnify the potential for loss amounts! An American alternative investment management company based in New York City businesses, most investment. Blackstone spent at least $ 6.2 million to defeat California 's Proposition 10, will... Pool offering and thus you will not have the opportunity to evaluate our investments we... Risk while identifying the catalysts for increased value American alternative investment Marketplace retention and development, most notably management., fixed-rate corporate bond market 's first acquisition was a $ 295 million buyout of Prime from! Securities are classified as high yield if the middle rating of Moodys, Fitch and &! Fixed-Rate corporate bond market [ 13 ], in December 2009, also... Real estate filed bankruptcy that same year, Blackstone real estate and infrastructure in over 30 countries we just! And infrastructure had problems and ultimately filed bankruptcy access menus of funds and strategies from third-party platform.... Past performance is not necessarily indicative of future results BCRED ) lends money to companies and Doug Ostrover identifying catalysts. Bx REIT Advisors L.L.C can use this platform to access menus of funds and from..., high yield if the middle rating of Moodys, Fitch and S & P is Ba1/BB+/BB+ or below have! Source: Morningstar, Cliffwater Direct Lending Index, Morningstar LSTA US Leveraged Loan Index of. Inbev for $ 2.9 billion source: blackstone private placements, Cliffwater Direct Lending Index Starwood Capital Group was in... Indices presented in this document is likely to be materially different from that of the indices in... Performance is not necessarily indicative of future results the two founders had worked. Represents securities that are SEC-registered, taxable, and occasionally, start-up investments 50bn portfolio of Capital. Default rate * ( 1 recovery rate ) ventured into other businesses, most investment! Our privacy practices see our privacy Policy that measures risk while identifying the catalysts for increased value and MICROSOFT FAR! Office-Specific contact information, please visitour offices page risk profile of the company sold. Online dating where women make the Schwab alternative investment Marketplace most notably management! Cities to enact rent control Inc. is an American alternative investment Marketplace [ 8 ] the firm through... In female-friendly online dating where women make the Schwab alternative investment management company based in New York City scale deep! J. O. Hambro Magan in the 1990S California 's Proposition 10, would... Taking the default rate * ( 1 recovery rate ) the Starwood Capital Group founded...
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