Apollo's Zito Says Risk Transfer Deals Are 'Investment du Jour'

What else could you be investing in very physically if it's not investment grade debt, Where else are the banks stepping back from the market because of regulatory reasons or otherwise that you find as new opportunities? Yeah, again, things, things that are super long duration like infrastructure is a natural place that matches well with our capital. And again for the bank, the banks, we the banks are going to do a ton of services that we don't do. We care predominantly about the asset and not so much necessarily about controlling the client with all these different services, cash management, treasury, other FX, other things like that. Well, they want to work in partnership with them to make sure that they're getting everything that optimizes. Are you considering a really big? Partnership then, I mean you say partnership a few times today or would you do a large partnership with the bank? Again for us you've seen Sr. TS have been kind of the investment du jour for those synthetic gas, synthetic clear, synthetic risk transfers where effectively you buy and you you provide first lost insurance in case there's losses and that releases capital for a bank. We've done very few of those. What we've done is really work. We've done things like Atlas where we buy Credit Suisse is securitized business. Where it's strategic, it's long term, it actually services our origination ambition for the next 1020 years. They, it has to be really something that's going to work for both parties. There have been lots of partnerships that have been announced that have been small, narrow and not I don't think fully, fully diligence with respect to how difficult it is to run those partnerships if there's not full alignment between between the two parties. So. Of course, we would entertain the appropriate partnerships, but they're very difficult to execute and they need to be strategic given our size.