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Ridgepost Capital, Inc.
8/10/2023
Hello, and welcome to the P10 second quarter 2023 conference call. My name is Cole, and I will be coordinating your call today. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. If you would like to ask a question, please press star 1 on your telephone keypad. I will now hand you over to your host, Mark Hood, EVP of Operations and Investor Relations. Mark, please go ahead.
Good afternoon, and welcome to the P10 second quarter 2023 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, 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 risk factors 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 31, 2022, filed with the SEC on March 27, 2023, 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. 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, and thank you for joining the call. I'm pleased to report strong fundraising and deployment during the quarter against what continues to be a challenging macroeconomic backdrop. Despite current market headwinds, the trends in our business are positive for the short and long term, with secular tailwinds driving private markets' asset allocation by investors. The second quarter marks our eighth financial report as a public company, and we believe the results we've consistently delivered make us a compelling business to own and a standout among our peers in the alternative management asset industry. Our financial results demonstrate we are a resilient and durable business. We believe that we have a desirable product mix that clients value and possess a core competency at allocating capital in a way that optimizes shareholder returns. P10 revenue is based on a long-term, contractually locked-up capital that generates robust margins and predictable earnings. We have unrivaled alignment with over 50% of our shares owned by insiders. Being added to the Russell indexes recently should promote a wider shareholder base, and as investors evaluate new index insurance, we think we screen well. With that, I will hand it off to Fritz.
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