FS KKR Capital Corp.

Good morning, ladies and gentlemen. Welcome to the FSKKR Capital Corp's third 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 instructions on how to enter the queue. Please note that this conference is being recorded. At this time, Robert Pohn, Head of Investor Relations, will proceed with the introduction. Mr. Pohn, you may begin.

Thank you. Good morning and welcome to FSKKR Capital Corp's third 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 November 7th, 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 September 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 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 7, 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 Steven 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 third quarter 2022 earnings conference call. FSK again delivered strong earnings in line with our quarterly guidance. Our results were driven both by the positive impact of rising interest rates and consistent dividend and fee income. During the third quarter, we generated net investment income totaling 76 cents per share and adjusted net investment income totaling 73 cents per share. This compares to our public guidance of approximately 76 and 72 cents per share, respectively. Consistent with the overall private debt market, the value of our investment portfolio declined during the third quarter, due primarily to spread widening and market multiple contraction. The 2.1% decline in the value of our investment portfolio equated to a 4.2% decline in our net asset value quarter over quarter. As Dan will discuss in more detail during his comments, the FSKKR Advisor continues to maintain its high quality credit standards and discipline underwriting process. We originated approximately $900 million of investments during the third quarter, and we ended the quarter with ample liquidity, totaling approximately $2.75 billion. Based on our third quarter financial results, our board has declared a fourth quarter total distribution of 68 cents per share, which consists of our quarterly base distribution of 61 cents per share, and a supplemental distribution of 7 cents per share. In terms of our forward-looking view, while we believe transaction flow for the next few months will continue to be below historical norms, we also believe our favorable liquidity position will enable us to take advantage of quality investment opportunities they present themselves during 2023 and beyond. Additionally, as Steven will discuss later in the call, our net investment income will continue to be positively impacted by the rise in base rates, as almost 90% of our yielding debt investment portfolio is comprised of floating rate investments. And with that, I'll turn the call over to Dan and the team to provide additional color on the market and the quarter.