Ridgepost Capital, Inc.

Hello and welcome to the P10 second quarter 2022 conference call. My name is Jason and I'll be coordinating your call today. I will now hand you over to our host, Mark Hood, EVP of Operations and Investor Relations. Mark, please go ahead.

Good afternoon and welcome to the P10 second quarter 2022 conference call. This is Mark Hood, EVP of Operations and Investor Relations. Today, we will be joined by Robert Alpert, Chairman and Co-CEO, Clark Webb, Co-CEO, Fritz Sauter, Chief Operating Officer, and Amanda Cousins, Chief Financial Officer. Before we begin, I'd like to remind everyone that this conference call, as well as the presentation slides, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current plans, estimates, and expectations and are inherently uncertain. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks or other factors. that are described in greater detail under risk factors in our annual report on Form 10-K for the year ended December 31st, 2021, filed with the SEC on March 21st, 2022, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included are made only as of the date hereof, and we undertake no obligation to update or revise any forward-looking statements as a result of new information or future events, except as otherwise required by law. I will now turn the call over to Robert.

Good afternoon. I'm Robert Alpert, Chairman and Co-CEO. Today we will discuss our strong second quarter 2022 financial results and the continued momentum we are seeing in the market from a fundraising and deployment perspective and share why we believe P10 is well positioned for continued organic growth. We delivered exceptional results in the second quarter and performed well across each of our strategies. Gross fee-paying assets under management increased by $1.2 billion, offset by $299 million of fee step-downs and expirations, and we ended the quarter at $18.5 billion, representing a 30% year-over-year increase. Organic fee-paying assets under management grew by $3.4 billion, or 22% when compared to the second quarter of 2021. On a year-over-year basis, revenue increased 38%, with GAAP net income increasing 351%. Adjusted EBITDA increased 52%, and adjusted net income essentially doubled. With our continued business momentum, we are well positioned to meet our expectations to raise approximately $5 billion over the course of 2022 and 2023. Because of our financial model, which generates growth and strong free tax flow, we continue to look to optimize our capital redeployment through M&A, debt paydown, share repurchases, and dividends. To that end, the Board of Directors today declared a $0.03 per share dividend payable September 20, 2022, for the holders of record as of the close of business on August 29, 2022. Now let's hand the call over to our Chief Operating Officer, Fritz Sauter.