FS KKR Capital Corp.

Good morning, ladies and gentlemen, and welcome to FSKKR Capital Corp's third quarter 2020 earnings conference call. Your lines will be in a listen-only mode during remarks by FKS's management. At the conclusion of the company's remarks, we'll begin the question and answer session, at which time I will give you instructions on entering the queue. Please note that this conference is being recorded. At this time, Robert Pond, head of investor relations, will proceed with the introduction. Mr. Pond, you may begin.

Thank you. Good morning and welcome to FSKKR Capital Corp's third quarter 2020 earnings conference call. Please note that FSKKR Capital Corp may be referred to as FSK, the fund, or the company throughout the call. Today's conference call is being recorded and an audio replay of the call will be available for 30 days. Replay information is included in a press release that FSK issued on November 9th, 2020. In addition, FSK has posted on its website a presentation containing supplemental financial information with respect to its portfolio and financial performance for the quarter ended September 30th, 2020. A link to today's webcast and the presentation is available on the investor relations section of the company's website under events and presentations. Please note that this call is the property of FSK. Any unauthorized rebroadcast of this call in any form is strictly prohibited. Today's conference call includes forward-looking statements and are subject to risks and uncertainties, including risks associated with the possible impact of COVID-19 that could affect FSK or the economy generally. We ask that you refer to FSK's most recent filings with the SEC for important factors and risks that could cause actual results or outcomes to differ materially from these statements. FSK does not undertake to update its forward-looking statements unless required to do so by law. In addition, this call will include certain non-GAAP financial measures. For such measures, reconciliations to the most directly comparable GAAP measures can be found in FSK's third quarter earnings release that was filed with the SEC on November 9th, 2020. Non-GAAP information should be considered supplemental in nature and should not be considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly named measures reported by other companies. To obtain copies of the company's latest SEC filings, please visit FSK's website. Speaking on today's call will be Michael Forman, Chairman and Chief Executive Officer, Dan Pietrzak, Chief Investment Officer and Co-President, Brian Gerson, Co-President, and Stephen Lilly, Chief Financial Officer. Also joining us on the phone are Co-Chief Operating Officers Drew O'Toole and Ryan Wilson. I will now turn the call over to Michael.

Thank you, Robert, and welcome everyone to FSKKR Capital Corp's third quarter 2020 earnings conference call. First, let me offer my continued well wishes to each of you, your loved ones, and your coworkers as our country continues to adapt to a post-COVID world. The FSKKR team continues to function largely in a virtual work environment. Thanks to the ongoing dedication of our investment and operating teams, the day-to-day cadence of our business somehow has begun to seem almost normal. I continue to be extremely proud of the job our team is doing during these extraordinary times. In recent weeks, our country has been almost entirely consumed by events leading up to the presidential election. The uncertainties associated with the election, combined with the effects of the pandemic and social unrest, seem to have permeated every aspect of our society. Our hope is that as we move toward the Thanksgiving holiday season in just a few weeks, that our country will begin the process of healing by recognizing we are stronger together than we are divided. Across our investment portfolio, we have seen management teams and sponsors continue to make well-informed business decisions focused on positioning their companies for long-term value creation. These decisions have included such things as building cash reserves, streamlining operations, communicating proactively with customers, and realigning supply chains to maximizing time to market for products. These decisions are manifesting themselves in tangible ways as the value of our investment portfolio appreciated during the third quarter, resulting in an increase in our net asset value per share of 4.7% as of quarter end. The FSK Care Investment Team has done an exceptional job working closely with these companies. From an operating perspective, our net investment income was 63 cents per share during the quarter, which was 3 cents above our third quarter dividend of 60 cents per share, and also 3 percent per share above our public guidance. From a liquidity perspective, we ended the quarter with approximately $1.5 billion of available liquidity, with no meaningful near-term debt maturities. Looking forward, consistent with our dividend strategy of targeting a long-term yield to investors of 9% of our net asset value, we currently expect our fourth quarter adjusted net investment income to approximate $0.64 per share. As such, our board has declared a distribution of $0.60 per share for the fourth quarter, which equates to an annualized yield of 9.8% on our NAV per share of $24.46 as of September 30, 2020. And with that, I'll turn the call over to Dan and the team to provide additional color on the market and the quarter.