Why don't private equity players invest in low ROCE industries?
I'm talking about industries like airlines, energy, data centes. And private equity (ex-infra guys).
I believe my question essentially is that while value creation depends on ROCE it's not entirely driven by it. Infra guys investing in areas like tollroads and such, where they run down the asset over a decade or 2, I understand. But industries like data centers and energy, where one can have EBITDA expansion with bolt-on aquisitions and geographic expansion. Why have these industries been a primarily infra play?
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