Turned down a seven year lockup because I already owned the same thing in a fund

A friend from my old job called about a data center deal. Sponsor he knows through somebody, minimum was more money than I've ever put in one thing, seven year lockup with a possible two year extension at the manager's discretion. He sent a spreadsheet with a chart of technology company capital spending going up and to the right, which is true, and a page about the site that said power availability was being finalized.

Being finalized. On the thing that determines whether the project exists.

I said no on the call, which is unusual for me, I normally say I'll think about it and then think about it for five weeks. Afterward I got curious and pulled up the holdings list for the boring broad index fund that's been eating my paycheck since 2016. Both of the big public data center names were sitting in there. Small weights, but there. I have owned this sector the entire time the sector was becoming the most in demand thing in real estate, and I found out on a Tuesday night by scrolling a PDF.

My friend is still doing his deal. He might do great. I get to own the same idea with no lockup and no capital call, and I never have to learn what a chilled water loop is.