"One final factor specific to AUM [asset under management] growth at Blackstone is our expansion into new client channels. This includes our entry into the retail market, which we are doing in Japan through partnering with leading institutions like Nomura, who we have an initiative with to enable Japanese individual investors to access our world-class real estate platform for the first time. Globally, we've raised $233 billion in retail AUM -- dramatically bigger than other firms in our area and see significant opportunity for further expansion."
We're expanding our activities in Japan. We've got 64 people there now, including investment professionals as well as a team dedicated to serving retail investors as I mentioned before. In that area, we're looking to widen our offerings and provide Japanese individuals access to our capabilities in private credit, similar to what we are doing in Real Estate. We are going to be quite active with a pioneering spirit in the Japanese market, doing the types of projects that we do so successfully in the United States.