That’s an interesting opportunity as we think about what makes networks tick in the future. And then, of course, we’ll also look at digital media assets. We had a great experience with the Wildstone acquisition. The Outdoor Media business is coming under some pressure right now like other sectors. So it’s a combination of value shopping high-quality shopping. And then the last of the 3 legs to the stool where we’ll invest is what we call backing management teams and new ideas. It’s something that we’ve done time and time again. We’ve stood up new businesses, new ideas, and we’re not afraid to do that with the right management team. It has to be sort of best-in-class. So a lot to do right now. We’ve got a very big pipeline of new ideas that we’re prosecuting for our new DigitalBridge Partners strategy.
And we’re pretty optimistic about the things that we’re doing right now.
Brent Penter: And last one for me. When should we expect the 2023 Investor Day?
Marc Ganzi: I’ll leave that to Severin White. Severin, do you want to answer that question?
Severin White: Yes. I think we’re looking potentially at June. So more to follow on that.
Operator: Our next question is from the line of Eric Luebchow with Wells Fargo.
Eric Luebchow: Just wanted to get an update on the deconsolidation of DataBank and Vantage SDC. Obviously, you’ve had a successful recap thus far of DataBank. Could you kind of remind us what you have left to do there? And maybe do you think you can continue to achieve the, I think, 30x multiple that you did on the initial stages of the recap? And then separately, with Vantage SDC, what type of appetite do you see out there today from investors for more stabilized data center assets like Vantage SDC versus more of a development platform like you have in the fund business?
Marc Ganzi: Yes. Thanks, Eric. Those are great questions. Let’s start with DataBank. I think that’s kind of the easier one. First of all, since we announced the transaction last June with Swiss Life and EDF, the headline multiple was close to 30x. What I’m pleased to tell you is that multiple today is not 30 times. The business, as you saw from Digital Operating results, which were very strong year-over-year. DataBank has massively outperformed its business plan. In fact, had its best quarter of leasing and company history in the fourth quarter. And today, the subscription period on that fund, remember, that’s a continuation fund, Eric. That stays open until June 30. So investors can subscribe all the way to June 30 at the initial share price.
So investors that have been patient and have continued to look at the company, have the chance to invest and clearly now have the chance to invest in the lower to mid-20s type multiple. So the business has managed to take that entry multiple down from 30 to 28, now closer to 25 to 24x. We’ve had spectacular execution at DataBank, I’m pleased to say. So what we did, Eric, is we had a number of different initiatives in flight with Switch and Deutsche Telekom. So we actually turned off the DataBank fundraising in fourth quarter. We’re reigniting that fundraising starting March 1, where we’ll take subscriptions again, and we’ll take subscriptions all the way until the end of June 30. We do have roughly about 22 investors in the data room doing the work.
We feel really good about our ability to raise another $600 million there. That gets us that $600 million, if I’m correct, Jacky, that takes us from about 12% down to 6% or 7%. You’ll have to give back me up on the numbers here on the fund raising.
Jacky Wu: Yes sure, no worries. We’re at around 11% right now, and that will take us a little under 8%.
