data center

“Those strategies, I think, will continue to both offer positive environmental impact, but also accretive propositions to the users, to, you know, data centers who are looking for that kind of local reliable power.”

“The one we chose was investing in data centers and we continue to invest in that. And then the other one, which we've most more recently kind of tripped into is sound stages for content production. And so those two share in many ways, a lot of similarities and…”

“Usually when you're investing in farmland, you're not actually buying the land. What you're really buying is access to water. It's more about water than it is soil. And so data centers is the same thing. It's about access to power.”

“One example might just be data centers, which is something that we're investing in, in private equity. We're investing in it in real estate. We're investing in it in infrastructure and we're investing in it in debt.”

“Live examples are data centers. Is data center real estate? Is it infrastructure? The constraint is energy. So rather than having discussions about where it fits, the real assets team just does data centers and they staff it with people from each group.”

“If you looked at public markets to make this a simple comparison, the decision to invest in data centers over retail real estate was dramatically more impactful than the decision of which REIT you bought within that structure.”

“The second thing that's happened is, as the public market has proven to be an efficient place to own and hold assets, more and more sub-sectors have come to the public markets. Data centers, towers, cold storage REITs, single family for rent REITs, gaming REIT…”

“The jury is out on what terminal value of these assets will be.”

“Data centers, they're one place in real estate where the better opportunities are in the private.”

“So I will say whether it's next year or the year after the year after, I would be shocked if there isn't a significant compression. Maybe starts with the valuations of private AI companies and significant down rounds, and maybe that has downstream effects beca…”

“The gold standard is financing a box, a data center that is being used by a hyperscaler, being guaranteed by a hyperscaler that amortizes.”

“When AI comes up with anyone in real estate or infrastructure, it's immediately just data centers. There's no question that that is probably the single biggest beneficiary of the AI trend.”