John Zito

to work through exactly the customization.

And we have the teams that are capable of doing that, which is just very different than the traditional syndicated market.

Yeah.

I hope that's the case.

Look, it's gotten a lot better.

The more big branded companies we do and the more they'll do it.

And the more repeat issuers that we do, the more that it will happen.

And we've made a ton of progress in the

I'll go to certain areas or certain parts of the globe and they're like, aren't you just a equity investor?

Aren't you a distruster?

That still happens every once in a while.

That's a grand problem.

It's just by and large.

Listen, we have an incredible history of generating fantastic returns, sometimes in more difficult situations and sometimes stepping into situations that no one else would step into.

And so people still have that perception of us, despite the business being in a completely different place to where it was 15 years ago.

So we created a whole alternative universe based on zero rates.

Most of the product design was based on zero rates, and it is still yet up for debate on how much of your return during that 15-year period was from just really low subsidized interest rates or actually from operational excellence.

And we'll see that over the next couple of years as we start to try to monetize some of these assets.

Buying an unlevered asset at 5% or 6%, which is infra real estate related activity, and funding at zero, as I mentioned, makes a ton of sense.

It works.