—investment climate around the world.
It is a challenge around the world now. With regard to markets, there is volatility that increased in the fourth quarter of our fiscal year, so evaluations have come off a little bit in certain areas around the world. However, it's still a challenge, given the wall of money. For example, in private equity, about $1.7 trillion is chasing private equity opportunities around the world, which is by far the largest pool of uninvested capital we've ever seen. It's a similar story in infrastructure and real estate and across most markets. It's a challenge for us. We need to be patient. We need to be selective. We need to find the right opportunities.