Blue Owl Capital Corporation

Greetings. Welcome to Owl Rock Capital Corp's fourth quarter 2022 earnings call. This time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone today should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. At this time, I'll now turn the conference over to Dana Sclafani, Head of Investor Relations. Dana, you may now begin.

Thank you, operator. Good morning, everyone, and welcome to Owl Rock Capital Corporation's fourth quarter earnings call. Joining me this morning are our Chief Executive Officer, Craig Packer, our Chief Financial Officer and Chief Operating Officer, Jonathan Lam, and other members of our senior management team. I'd like to remind our listeners that remarks made during today's call may contain forward-looking statements, which are not a guarantee of future performance or results, and involve a number of risks and uncertainties that are outside the company's control. Actual results may differ materially from those in forward-looking statements as a result of a number of factors including those described in ORCC's filings with the SEC. The company assumes no obligation to update any forward-looking statements. Certain information discussed on this call and in our earnings materials, including information related to portfolio companies, was derived from third-party sources and has not been independently verified. The company makes no such representations or warranties with respect to this information. ORCC's earnings release, 10K, and supplemental earnings presentation are available on the investor relations section of our website at owlrockcapitalcorporation.com. With that, I'll turn the call over to Craig.

Thanks, Dana. Good morning, everyone, and thank you all for joining us today. We are pleased to once again report another quarter of very strong results with earnings momentum that reflects the continued pull-through of higher rates and the ongoing strong performance of our portfolio. Our net investment income in the fourth quarter was 41 cents per share, capping off a record year since we went public. To put this in perspective, NII increased 18% versus the fourth quarter last year, and over 30% in the second half of the year, as we have seen the benefit of rising rates and stable credit performance.