In 2007 with the beginning of the financial crisis, we are smart in the context to [de-reading], we sold majority of those [real] assets and converted to a publicly traded partnership, and then exclusively focused on things that we could know and understand related to corporate credit.
That time we had to a lot of work on the right hand side of the balance sheet because we had a lot of market value leverage, total rates, returns, swap, market value, CLO structures and so we were trying to deal with that mismatch aspect of mismatch duration between assets and liabilities, that was cleaned up in 2009 and from 2010 onward it's a new strategy.
Liabilities they are always in excess of length of the underlying assets in which we purchase. It's thinking about where the greatest supply demand and balances are globally and it's thinking about how we maximize individual investment returns using the KKR network to drive value creation, and it's thinking about what we are today which is the same thing we were three years ago. We are and will be a specialty finance company but we are focused not just on income like a lot of specialty finance companies that you may all follow, not just yield, we want growth.
We want that yield to grow, we want our earnings to grow, our cash earnings to grow, our book value to grow and we are targeting returns of 1000 basis points in excess of the 10 year treasury on a consist basis similar to what we have been able to achieve in the past several years.And we don't want to be fixed in how we think about capital deployment. We want to be opportunistic and tactical. Right now we have focus on two core investment themes, financial assets in a broad sense and real assets.
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