00:00This Coke deal, it's interesting because I feel like we're getting more sales of companies that built up data centers
00:05from the ground.
00:05I know Carlisle had one recently, too, that you've been covering.
00:09So why does it now seem like Coke and others are finally starting to exit some of these investments?
00:13I think that they see an opportunity to kind of, you know, they made this investment to kind of build
00:18up these companies.
00:19You know, Coke helped build Edge, and they kind of see an opportunity to sort of sell into this hot
00:24market.
00:24There's a ton of demand, obviously, not only for compute power, but also all the infrastructure around it.
00:31So the data centers, the power, you know, the ability to operate and run the asset.
00:37You know, KKR launched Helix Digital Infrastructure earlier this year to do the exact same thing.
00:43So basically every private capital provider is trying to get into this space.
00:47And again, it makes sense why when you hear deal after deal being announced.
00:50I mentioned that $100 billion one with Brookfields.
00:53We also had Meta and BlackRock also announcing one.
00:56Is there this feeling, though, as companies try to exit, that multiples are really high and this is kind of
01:02as good as it gets?
01:03Or are they all sort of saying this is a trend and we're going to continue to ride it and
01:07we're going to make further investments,
01:08maybe in the case of Coke, even after we exit this one?
01:10I think there is a sense, at least among the sort of private equity folks that I speak with, that
01:14there is frothiness in the market.
01:16There might be a few deals that end up going a little bit sideways.
01:19But the long-term trend is still there.
01:22Goldman Sachs research says there's going to need to be more than $5 trillion of spend in the space by
01:272030 and that private capital is going to be a really big piece of that.
01:31So people are kind of betting on the long game and acknowledging that there might be a little turbulence with
01:37deals on a case-by-case basis.
01:39burned down.
01:39Goodness.
01:39Yes.
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