Nirmit, let's talk about who runs portfolio ops for Stonepeak

Infrastructure and real assets investment has moved beyond simple capital deployment toward a heavy reliance on technical operational improvements to hit return targets. In sectors like digital infrastructure and energy, the ability to scale platform businesses depends entirely on having a leadership team that can execute a complex value creation plan from day one. We are seeing a consistent challenge in finding Senior Directors and Operating Partners who have successfully managed these specific transitions within a private equity framework, particularly as compensation structures for these specialized roles continue to shift. If you are thinking about how to staff your portfolio value creation team or looking for leaders to run your latest acquisitions, I am happy to share what we are seeing across the market.