And so we’re going to continue on the same cadence in Asia. We’re seeing good opportunities. We’re seeing a lot of our customers are looking to sell infrastructure. And keep in mind, a lot of the carriers sold their infrastructure, Michael, 15 years ago in the U.S. In Europe, they started selling 5, 6 years ago. And Asia is kind of the last big theater where you’re going to see a lot of infrastructure to be sold. So I think that’s me telegraphing that a little bit. I’m still a little risk off on Europe. I think the way we play Europe is through dislocation. I think you’ve seen a couple of fiber-to-the-home bankruptcies in the last 2 to 3 weeks. We’ve been looking around some of those. So in Europe, we’re going to be a little more opportunistic.
I don’t think we pay up for high-quality platforms in Europe. I think in the U.S., it’s business as usual. I think we’ve been pretty consistent across the last 2 funds about what we’ve done in the U.S. and we like the U.S. We like the technicals. It’s our home market. We like some of the things we’re seeing in Canada. I wouldn’t give up on investing in Canada. And then I think in Latin America, as they start to emerge from some of the recessions they had 5, 6 years ago, we do like some of those markets. But again, a very limited amount of capital. I don’t see us going crazy in LatAm. But I think the big winners over the next 2 years for us will be here in our home market and in Asia are really the 2 standout areas for geography, Michael.
Operator: Our next question is from the line of Dan Day with B. Riley Securities.
Daniel Day: Thanks for all the color on the deconsolidation of DataBank and Vantage. I think the other piece of the simplification pie that we’ve spent less time on is some of the noncore assets you plan to divest, like the BrightSpire shares, some of the other kind of legacy Colony Capital stuff just kind of laying around still. Any update on the time line for divestiture of those? Is that going to be a 2023 event? And would that have any impact on the DE guidance that you gave?
Marc Ganzi: I think we’ve been pretty clear about that as well that this would be the year that we’d finished divesting of all the noncore assets. That time line remains unchanged. That cash can be put to good work on digital IM M&A, and that’s what we intend to do, rotate out of stuff that doesn’t have a high IRR, high yield. So we’ll focus on that. And then it also gives us the opportunity to put more capital into our new funds because that’s working. I mean that’s clearly the right strategy for us is to continue to invest in digital. So I think what you’ll see is, by the end of this year, an incredibly clean, low-levered, sector-focused asset manager that’s putting up incredibly strong FRE numbers. And our goal is, as usual, is to beat our guidance.
I think that something this management team has long had a rich history of doing is beating our guidance. So — but look, on BrightSpire, Jacky has been running with that. And I’m sure, Jacky, any incremental color you want to give on BrightSpire?
Jacky Wu: Yes, sure. So we’ve always said we’d be responsible sellers, but Marc really said it. It’s noncore and our focus this year is to be opportunistic with selling — to divesting those to the degree it makes sense for our shareholders and the price that we’re going to get for it. But — and then the other legacy Colony assets, really the principal 1 is a seller’s note associated with health care, which we will continue to work with Highgate to monetize that are appropriate. And the other investments are pretty much gone. So we’re really left with just those two.
