Joel Madden: 'Ashlee and Pete Will Be Great Parents'

A dad himself to 10-month-old daughter Harlow, Joel Madden is confident that pals Ashlee Simpson-Wentz and Pete Wentz will be great parents to their new son Bronx.

"They are going to be great parents," Madden told PEOPLE Saturday while celebrating Good Charlotte's upcoming remix album at Hollywood's ECCO Ultra Lounge. "They both have really big hearts. I wish them the best. I know they have their hands full right now but I'm excited for them."

Family life has inspired Joel to write more music, and Joel says he plays music for his daughter and girlfriend Nicole Ritchie at home while they spend time together.

"My whole life is centered around her," he gushes about his daughter, "The only thing you really have is work and family. Your whole life... your whole lifestyle changes."

And as for Harlow's most recent milestone? Joel joked that she's "doing chemistry now."

"She's doing great, she's growing up really fast."

Photo: Flynet