Daniel Day: Awesome. And then I appreciate the color on the common stock repurchases in the fourth quarter. Just wondering if you could give an average purchase price on those for 4Q, maybe how active you’ve been after quarter end and if you have been active in ’23 so far, whether that’s been the common, the preferred, the mix and how much is on the authorization as of today?
Jacky Wu: Yes, sure. It was basically at around $13, and we will continue to work with our Board to see where it makes sense to be more opportunistic with taking the rest of it from a share buyback perspective.
Daniel Day: Okay. So just to be — you’re not commenting on any repurchase activity after quarter end. That’s fine if you are. I just wanted to make sure.
Jacky Wu: We will not comment on that at this point, but if we do have an authorization, I’ll have to do so.
Operator: Our next question is from the line of Richard Choe with JPMorgan.
Yong Choe: I wanted to follow up on the potential investments in Asia. Do you see more opportunity with Towers, data centers or Fiber? And would it be mainly carrier sales or investing in companies that are thinking about building? Just wanted to get a little more color there.
Marc Ganzi: Yes. Thanks, Richard. Look, you wouldn’t be surprised to hear this, but it’s a little bit of everything, right? Some of these are carrier partnerships like we have with Deutsche Telekom, like we have with Liberty in Europe. Some of these are straight acquisitions. Some of these are divested assets, potentially a carrier divesting of their long-haul suboceanic network. It could be edge data center’s we’re working with a specific customer. It could be — it’s a variety of things. I don’t want to get too specific because it’s obviously pretty strategic. We like to kind of run dark and silent. And then when we make our move we announce the deal. But — as I said before, Richard, the playground in Asia is very fertile.
It’s fertile from a customer perspective, from a carrier perspective. It’s extremely fertile from a fundraising perspective. We’re seeing incredible interest in what we’re doing because we did raise a lot of capital, Richard, in Fund I and Fund II out of Asia. And we’re seeing a lot of interest in what we do as Asian investors, as you know, Richard, tend to be pretty conservative. So they looked at our first strategy, they looked at our second strategy. They generally like to invest in later-generation strategies. So the big kind of ’23 surprise for us will be the fundraising in Asia and we now have 3 full-time sales people in Asia, which we had — literally a year ago, we had none. And they are 3 absolute rockstar fundraisers. So we went from having literally not a strong presence in that region to having a leading presence in that region from a fundraising perspective, and I’m pretty excited.
I’ve taken 2 trips Asia in the last 90 days. I’ll take 2 more trips to Asia in the next 120 days, and we’re pretty buoyant about what we’re seeing there from a pipeline perspective, from a fundraising perspective. Our Singapore office has 17 full-time investment professionals now. So we’re — we feel like we’ve got the right team on the street, right opportunity set and we’ve got the right capital information. And those are the ingredients you need to be successful.
