Alan Waxman

Or we're looking at a company and this customer is more interesting.

And then the last thing is just sometimes all of a sudden you start to see free deals, data centers.

Obviously, that's not a good example because we started doing data centers back in 2017 with AirTrunk, which we can talk about because that's a company we started with sort of the white sheet of paper, which is actually just got bought Blackstone for, I think, $16 billion or something like that.

So we'll get a deal and it comes top down, bottom up.

And sometimes we just have a view on something and we'll start doing a bunch of primary research.

But a lot of it's through primary research, through relationships, but it comes from everywhere.

It's not one place, it's everywhere.

And that's the whole point of our firm is that because there's no silos and no fiefdoms, all those things get circulating up.

All of a sudden we see a theme from our

power people.

We have a team that all they do is power.

Our data comms people, data communications, and we see a com for our real estate people.

And this is what's going on with AI, the constraint of power, putting all those on one umbrella.

I'm like, hey, let's have you guys all work together on this.

We have 25 themes running through the platform right now.

I'll just give you a few of them.

Number one is partnering with big companies, big corporates to help advance their business.

A firm we talked about thinking about partnering with asset originators and banks to basically help their origination, help their operating leverage.

So that's a big thing in our asset-based finance business.

Our real estate business, the idea of people getting older, wealth tech.