Is Leverage the Key Driver of Returns in PPE?

I would expect to see much like the way on big deals, banks, to work in syndicates, that you'd start to see some of these newer players in the private credit space do similar things. And you'd expect that, right? Again, for the reason that they don't have to borrow on the wholesale market. This is good for their investors. So I think those who can demonstrate this value creation credibility, I suppose, may find fundraising easier now.