Jonathan Ferro

alarm clock on the West Coast?

How does that work?

You've got our life.

Well, I'm happy to have you with us this morning.

Let's get into some of these deals.

I know there's certain deals you can talk about, can't talk about.

I want to talk in broad terms about the appetite here.

For the capital that we need to provide to this particular force, this growing force, AI data centers, where it's going to come from, and where you and the team are going to fit in.

We've reflected on one particular statement from one particular tech CEO over the last 12 months that I think was really quite important.

It was last summer.

It was the Alphabet CEO when essentially he said that the greatest risk here was underinvesting and not overinvesting.

And I wonder how you think about that from the perspective as an asset manager when you've got a group of companies that are willing to run the risk of overinvesting.

How do you think about the risk around it?

I think it's important to build on this that Mark Rowan said recently, we are what we originate.

When it comes to private markets, you are what you originate.

It's quite labor intensive.

It takes a lot of work.

When you think about scaling this and building this as an opportunity, how difficult is it in practice?

You made a headline recently.

Wanted to ask you about it.