Great Elm Group, Inc.

Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Great Elm Group Fiscal 2023 Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star, then the number one on your telephone keypad. I would now like to turn the conference over to Adam Yates, Managing Director. Please go ahead.

Good morning, everyone. Thank you for joining us for Great Elm Group's Fiscal Third Quarter 2023 Earnings Conference Call. As a reminder, this conference call is being recorded on Friday, May 5, 2023. If you would like to be added to our distribution list, you can email GEGInvestorRelations at GreatElmCap.com, or you can sign up for alerts directly on our website, www.greatelmgroup.com. The slide presentation accompanying today's conference call and webcast can be found on our website under events and presentations. A link to the webcast is also available on our website as well as in the press release that was disseminated to announce the quarterly results. Today's conference call includes forward-looking statements and we ask that you refer to Great Elm Group's filings with the SEC for important factors that could cause actual results to differ materially from these statements. Great Elm Group does not undertake to update its forward-looking statements unless required by law. In addition, during today's call, management will refer to certain non-GAAP financial measures. Reconciliations to the most comparable financial measures are included in our earnings release. To obtain copies of our SEC filings, please visit Great Elm Group's website under Financial Information and select SEC Filings. On the call today, we have Jason Reese, our newly appointed CEO, Adam Kleinman, President, Nicole Mills, COO, and Brent Pearson, CFO. I will now turn the call over to Jason Reese, CEO.

Thank you, Adam. Welcome, everyone, and thank you for joining us. I am thrilled to report, as of today, Great Elm Group has completed its transformation from a diversified holding company to a focused alternative asset manager. We spent the last year taking deliberate steps to reposition the company, to simplify the balance sheet, and to position the organization for growth. Let me walk you through some key highlights. In March of 22, key management changes were made at Great Elm Capital Corp., a publicly traded BDC. Matt Kaplan was appointed as its CEO and three new directors were appointed to the board. GEG waived all accrued incentive fees at the BDC and we started with a clean slate under Matt's leadership. With these changes, the BDC has been successfully repositioned to become a consistent income-producing vehicle for GEG. GECC reported a strong first quarter yesterday. If you do not have If you've not had the opportunity to review the materials or listen to the call, I strongly suggest you take the opportunity to do so. After the GECC leadership changes, we acquired the Management Agreement of Monomoy Properties in May of 22. This transaction marked our entry into the private REIT industry, doubled our AUM, and highlighted our ability to add long-duration capital vehicles to GEG. later in may dave matter joined our board of directors after retiring from blackrock where he was the co-chief investment officer of blackrock alternative advisors their hedge fund solutions team dave brings incredible relationships and investment experience to great home in june we successfully raised 27 million dollars in seven and a quarter percent unsecured notes due in 2027. in august GECC shareholders approved an amendment to reset GEG's incentive fees to start fresh on April 1, 2022. As a result, we believe that we are well positioned to start receiving cash incentive fees in the future. Around the end of the calendar year, we closed two large strategic business divestitures. First, we sold our entire majority interest in forest investments in a two-part transaction taking place in December 22 and January 23. In January, we sold our majority interest in the non-core DME business. This leaves us with a streamlined corporate structure and a clean, easy-to-understand balance sheet. Today, the company announced that Pete Reed resigned as CEO, effective with the filing of a Form 10-Q. I am fortunate that the board asked me to assume the additional role of CEO. and I am gratefully accept their appointment. As the largest shareholder of GEG, my interests are directly aligned with all of our shareholders. I would like to take the opportunity to thank Pete for his service and contributions to Gradome. Pete steps down with our full support, and we look forward to working with Pete as a consultant to the company to ensure a smooth transition. We are grateful for his expertise, passion, dedication, and leadership over the years. We are now a focused alternative asset manager with two anchor investment vehicles, GECC and Monomoy Properties. We have a healthy pipeline of new business opportunities and a clean liquid balance sheet to execute upon them. Our institutional back office has the ability to effectively service our growing platform. We're well positioned to achieve our strategic goals. It's now my job as CEO to prove to our shareholders that we can achieve our goals, which are simple. Grow our assets under management, improve our profitability, and execute on opportunities to expand our platform. I look forward to leading Great Elm in its next phase of growth and reporting to you on our progress. With that, I'll turn it over to Brent to discuss our financial results for the quarter.