FS KKR Capital Corp.

Good morning, ladies and gentlemen. Welcome to FSKKR Capital Corp's third quarter 2024 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 DOCU. Please note that this conference is being recorded. At this time, Anna Kawahai, Head of Investor Relations will proceed with the introduction. You may now begin.

Thank you. Good morning and welcome to FSKPR Capital Corp's third quarter 2024 earnings conference call. Please note that FSKPR 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 yesterday. 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, 2024. 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, reconciliation to the most directly comparable GAAP measures can be found in FSK's third quarter earning release that was filed with the SEC on November 6, 2024. 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 FST's website. Speaking on today's call will be Michael Foreman, Chief Executive Officer and Chairman, Dan Pietrzak, Chief Investment Officer and Co-President, Brian Gerson, Co-President, and Steven Lilly, Chief Financial Officer. Also joining us on the call today are Co-Chief Operating Officers Drew O'Toole and Ryan Wilson. I will now turn the call over to Michael.

Thank you, Anna, and good morning, everyone. Thank you all for joining us today for FSK's third quarter 2024 earnings call. FSK's financial and operating results showed continued strength during the third quarter as we again exceeded our earnings guidance and over-earned our quarterly base and supplemental distribution. During the third quarter, FSK generated net investment income of 77 cents per share, and adjusted net investment income of 74 cents per share as compared to our public guidance of approximately 72 and 70 cents per share respectively. Our net asset value per share at the end of the third quarter was 23.82. On October 8th, 2024, we announced that our board declared a total fourth quarter distribution of 70 cents per share consisting of our base distribution of 64 cents per share and a supplemental distribution of $0.06 per share. This results in $2.90 per share of total distributions in 2024, which equates to a 12.2 percent yield on our September 30, 2024 net asset value of $0.2382 per share and a yield of approximately 14 percent based on our recent share price. As Dan will discuss in more detail during his comments, the FSK Care Advisor continues to maintain its high bar on credit quality and disciplined underwriting process. During the third quarter, we originated approximately $1.1 billion of investments, and we ended the quarter with ample liquidity totaling approximately $4.4 billion. As we begin focusing on 2025, FSK is well positioned to capitalize on expected market conditions. First, Given the recent reduction in interest rates and assuming some level of additional rate cuts over the next 12 months, our portfolio companies should experience improved credit metrics such as interest and fixed charge coverage ratios. Next, based on our expectation for continued improvement in the M&A environment, there should be additional opportunities to rotate out of certain legacy portfolio companies which have positioned themselves favorably over the last several years. Lastly, we're optimistic about the outlook for new investment opportunities and continue to believe that the KKR credit platform is well positioned to generate differentiated deal flow across private debt and asset-based finance 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.