mr. coaker said there was no other strategy in the marketplace like this one in the sense that the low fee, low tracking, reconstituted index using robust data. subsequent to that and i could not find what mark, he also answered a question of commissioner cohen saying this was the only strategy. i think the minutes should reflect and capture that word, only. it's a very material statement based on the way this hiring was done. so i think that word is a fact. that is true. what that word means, i do not know what it means, because i do not believe it's true. i'm working on that and will try to confirm whether that statement is true or not. as a material issue, based on how this firm manager was hired and funded. so, i wish i could get the sense. i would give the report to mr. nickens, a point where they can look for the phrase to amend the minutes to capture that. part two, the end of the minutes, i understand the secretary tries to capture long discussions into one or two sentences. phrase reflecting that this proposal, goldman sachs, this proposal was presented to the board. minutes are a

mr. coaker. >> start by looking at the second page, if you look to the column titled, allocation, alloc, i want draw the progress we've made. you see private equity right now is 16.5. that was under 12, slightly under 12 four years ago. so even in a bull market, we've come a long ways there. the next is that liquid -- well, let's take private debt. only 1.8%, but i'm going to come back to that because we made $600 million worth of commitments that are waiting to go called. when it does, that will be over 4%. the next progress is in real assets. that's at 14.2. that number was slightly under 9 four years ago. so we've come a long way there. and absolute return, that's 9.6, and that number has been built from the ground up, in the past year and a half. we've come a long ways, what is still to be completed is the remaining build-out of 5% in absolute return. i think we're going to be more than halfway of that 5 in about year end. private credit, we've talked to you, that's going to take time. that could take five years. that's cambridge's estimate. it really is dependent on capital being ca