Hiring activity increased 102.2% from the fourth quarter to $105.76 billion, mostly due to Saudi Arabia Public Investment Fund's $45 billion investment in SoftBank Vision Fund. Excluding the SoftBank investment, hiring activity increased 16.19% for the quarter and dipped 1.53% from the same period a year ago. Blackstone won 23 mandates, totaling $5.01 billion, for alternative investments in Capital Partners VIII, Real Estate Partners Europe VI, Real Estate Partners IX, Tactical Opportunities Fund III and Infrastructure Partners funds. Brookfield Asset Management received nine mandates worth $1.84 billion for Strategic Real Estate Partners III, Infrastructure Fund IV and Capital Partners V. Twenty-four individual mandates centered on investments of at least $500 million, compared to 11 mandates in the fourth quarter of 2018. The median size of the top 25 mandates increased 32.94% to $565 million from $425 million in the previous quarter. Fidelity International and Neuberger Berman each received a $1.3 billion fixed-income mandate from LGPS Central.