Timing right now in Europe is very interesting. This Global Industrial Renaissance we've talked about in the context of North America, applies equally in Europe, and in many respects, the infrastructure investment needs are even greater in Europe.

It’s a developed market that needs significant rewiring. Apart from anything else, in order to facilitate Energy Demand, Energy Transition, and also Digitization. There’s been a change in the macroeconomics where interest rates are now structurally higher. We’re seeing stickier inflation. And what that means is financing is more expensive. People are having to be more creative about how they raise capital and how they invest it. And bridging the gap between sometimes the perception of value on the behalf of equity owners and the reality of value in the current interest rate environment requires a level of creativity, I think Apollo is best placed to provide.