And then we’ve got a best-in-class sales team led by Andrés Irlando. So we’ve made all the right moves. We’re starting to see the results. And we’re very confident in that company. The routes that Zayo has and the customers it has are pretty indelible, really difficult to replicate what Zayo has on a nationwide basis. And so we know in time, the network wins and we know the quality of the cash flows and the quality of the customers win. I think the business had a set of headwinds. We knew that when we underwrote the deal. We had a battle plan to fix it, and that’s what I’ve been focused on for the last better part of 3 quarters since the second quarter of last year. It’s one of the Boards that I personally sit on and investors can go to sleep at night knowing that I’m very involved in that business day to day with Steve Smith, and I quite enjoy it, and I like the management team, and I know where we’re going, and it’s headed in the absolute right direction and the financial performance will show that this year.
So we have strong conviction in the bonds.
Operator: The next question is from the line of Jon Atkin with RBC Capital Markets.
Jonathan Atkin: So just two questions on capital formation. Can you talk a little bit about how your discussions with investors has changed just given what’s going on in kind of the macro economy and financing costs and just overall capital markets conditions? And are you expecting to get largely kind of repeat investors or folks that are new to the family or new to Digital? Just trying to get a sense of how you get to that target and how the discussions maybe this year might be different from what you’ve had in prior cycles? And then on the simplification of the capital structure. I think you kind of alluded to this earlier, but maybe you could just to repeat, what are the procedural milestones to keep in mind that might influence the time line around deconsolidation?
Marc Ganzi: Let me take the easier one, which is deconsolidation. I think we just laid that out. We’ve got teams in place right now that are talking to investors on both assets. I think DataBank sort of comes first. Vantage SDC comes second. We’ve committed to deconsolidating both of those assets this year. I’ve given you a June 30 time line on the DataBank fundraising. That’s when the subscription period ends in that continuation fund. And we’ve got 22 logos in there in the data room doing the work. $600 million is the target. Verbal commitments right now are almost quadruple that, just to give you a sense of our conviction level around the DataBank process. The Vantage SDC process sell down there just started. And there, it’s a combination, as I said, sovereign wealth funds, pension funds, particularly Japanese, Korean and Australian pension funds, roughly about 14 logos have been invited to look at that.
And what’s also interesting right now, if you follow fundraising, Jonathan, you’ll know that there are literally hundreds of billions of dollars sitting on the sidelines in secondary funds. So folks that do secondaries like Partners Group, Blackstone and Ardian, who are quite expert at that are also looking at the opportunity. It’s a really high-quality set of assets. And what I’ve always found in my line of work, Jonathan, is when there’s hundreds of billions of dollars sitting on the sidelines chasing very few deals that are of high quality, usually you win. So we’ve got secondary folks looking at it as well, not at a discount to be clear. And our conviction level around just the quality of the Vantage assets is quite strong. So I can’t give you a specific time line.
