FS KKR Capital Corp.

Good morning, ladies and gentlemen, and welcome to the FSKKR Capital Corp's second quarter 2022 earnings conference call. Your lines will be in a listen-only mode during remarks by FSK's management. At the conclusion of the company's remarks, We will 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 second quarter 2022 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 August 8th, 2022. 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 June 30th, 2022. 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 that could affect FSK or the economy generally. We ask that you refer to FSK's most recent filings with the FCC 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, reconciliation to the most directly comparable GAAP measures can be found in FSK's second quarter earnings release that was filed with the SEC on August 8, 2022. 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 Foreman, 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 in the room are Co-Chief Operating Officers Drew O'Toole and Ryan Wilson. I will now turn the call over to Michael.

Thank you, Robert, and good morning, everyone. Welcome to FSKKR Capital Corp's second quarter 2022 earnings conference call. With the broader equity markets experiencing significant volatility during the first half of the year, we are reminded of the benefits of dividend-focused investment companies like FSK, which offer investors the opportunity for consistent risk-adjusted yields across multiple market environments. Our investment portfolio continues to experience a high degree of financial stability due to the quality of investments our team has originated over the last four plus years. During the second quarter, we generated net investment income totaling 71 cents per share and adjusted net investment income totaling 67 cents per share as compared to our public guidance of approximately 70 cents and 65 cents per share respectively. Based on our quarterly financial results, our board has declared a third quarter total distribution of 67 cents per share. As part of this distribution, we're also increasing our quarterly base distribution to 61 cents per share. As Dan will discuss in more detail, during his comments, origination volume slowed during the second quarter as our investment team originated 804 million of investments compared to 2.1 billion of investments during the first quarter of this year. Consistent with the overall private debt market, the value of our investment portfolio declined marginally during the quarter due primarily to spread widening and market multiple contraction. The 1.6% decline in the value of our investment portfolio equated to a 3.4% decline in our net asset value quarter over quarter. In terms of our $100 million share of purchase program, through August 6, 2022, we have repurchased approximately $41 million of shares under this program. From a forward-looking perspective, we believe our strong liquidity position will enable us to be opportunistic with regard to new investments as we move into the second half of the year. And with that, I'll turn the call over to Dan and the team to provide additional color on the market in the quarter.