Matt Miller

It's sort of being pitched as a defense and a reindustrialization fund.

And that actually has a lot of connectivity with defense in general, right?

We've seen the U.S.

Army, they have this big push for $150 billion in capital to invest in infrastructure.

We saw that they, you know, entered into exclusivity to negotiate with KKR and Carlyle and data centers last week.

So this has really been an emerging theme of private capital kind of coalescing around defense and industrialization.

Private capital getting into it big, but Carlisle specifically has deep roots in defense.

What's different about this go-around?

What is different about this go-around is we sort of, in the past, defense, as I understand it, has been somewhat boom and bust or wax and wane, you know, depending on really who's in the government and what kind of push there is to invest in defense.

But given sort of the changing environment today,

that we saw really starting with Ukraine a few years ago and now kind of what is happening here.

There's a realization among governments around the world that they need to invest in their defense, invest in the military and do technological upgrades as well as sort of, again, that infrastructure upgrade.

All right, makes a lot of sense.

Looking forward to more reporting on this story.

Allison McNeely, thanks for joining us.

Let's stick with the defense or reindustrialization theme because Saronic is making military drone boats.

It's closed a $1.75 billion Series D round, valuing the company at $9.25 billion.

And we have the CEO for you.

Dino Mavrukas joins us.

And Dino, you know,