JLL views management as the most important ingredient in making an investment. We only invest in situations where we can partner with experienced executives who have proven track records. We work closely but not intrusively with management to develop growth strategies, enhance profitability, and make acquisitions. We may back strong incumbent management teams already operating good companies or we may team up with experienced managers to acquire companies in their industry. We are always interested in meeting proven executives with a perspective on an industry and a vision for growth and value creation. JLL aligns its interests with senior management through very significant equity-based compensation programs. We firmly believe that management teams should share generously in the equity value they help create.