Trying to get a sense of how CLO fees and comp for credit analysts at CLO managers scale. I understand CLO managers charge management fees (typically less than what a direct lending fund or fund with a higher yield target would charge), but do CLO managers charge any performance fees? How does comp scale for credit analysts at a CLO fund? Is there any "carry" like there would be on the direct lending side for example? Trying to understand what the career earnings of working at a CLO fund look like vs direct lending/private credit.