Sitting at the intersection of Permira Credit and Permira, our Strategic Opportunities strategy will seek to provide capital to European businesses. Our Strategic Opportunities strategy provides the flexibility to pivot investment activity according to the prevailing market opportunities. Strategic Capital, the principal area of target deployment, will consist of providing bespoke debt and minority equity primary solutions to companies unable to access traditional forms of financing. Dislocation Opportunities may arise during periods of volatility, and our Strategic Opportunities strategy has the ability to lend into these environments to support quality companies.