@WestTXLandman That is inclusive of PHX before the take private. PHX had absurd G&A. No idea why Whitehawk would market off that…they also say in the s-1 that the management fee goes away as part of this deal. I guess they can’t show projections
@LPInvestor@hitsamty Yes - they have their own BD. They also raised mezz for the same deals they raised equity and control decisions for both. Nothing to see here!