Net Income

95% increase (from 94,240 thousand USD in Q3 2023 to 183,384 thousand USD in Q3 2024)

Improved profitability driven by stronger operational performance and better realized gains from investments as well as favorable adjustments in expense reversals, reflecting a marked turnaround from the previous period. " "

Investment Income

Deteriorated from a loss of 4,692 thousand USD in Q3 2023 to a loss of 25,279 thousand USD in Q3 2024 (over 400% increase in negative earnings)

Worsened investment performance likely due to declining values in underlying assets such as SPAC shares and credit investments that reversed previous period gains, resulting in increased negative income compared to the relatively modest losses in the prior period. " "

Borrowings on Credit Facilities

Approximately 89% reduction (from 168,475 thousand USD in Q3 2023 to 19,071 thousand USD in Q3 2024)

Major deleveraging attributed to structural changes in the financing strategy, possibly linked to a deliberate move to reduce dependence on credit facilities, a contrast to the higher borrowing levels seen in the previous period. " "

Ending Balance of Cash and Cash Equivalents

97% increase (from 268,792 thousand USD in Q3 2023 to 529,298 thousand USD in Q3 2024)

Substantial liquidity improvement driven by a strong net cash inflow from financing activities (e.g., increased borrowings offset by repayments), reflecting a better balance sheet position relative to the lower cash held in the prior period. " "

Accrued Compensation Expense

Nearly 100% reduction (from 59,119 thousand USD in Q2 2023 to 212 thousand USD in Q3 2024)

Drastic reduction due to a one-off adjustment or restructuring measure (e.g., the write-off of incentive compensation liabilities) that had already begun impacting expenses in previous periods, sharply lowering the accrued liabilities in the current period. " "

Total Assets

7% increase (from 6,511,711 thousand USD in Q2 2023 to 6,966,464 thousand USD in Q3 2024)

Asset expansion resulting from increased investments at fair value and higher cash balances, illustrating continued asset growth relative to the previous period’s lower baseline, which benefited from earlier corporate investment activities and improved market valuations. " "