P10, Inc. (NYSE:PX) Q2 2022 Earnings Conference Call August 11, 2022 4:30 PM ET
Company Participants
Mark Hood - EVP, Operations and IR
Robert Alpert - Chairman and Co-CEO
Fritz Souder - COO
Clark Webb - Co-CEO
Amanda Coussens - CFO
Conference Call Participants
Ken Worthington - JPMorgan
Michael Cyprys - Morgan Stanley
Robert Lee - KBW
Chris Kotowski - Oppenheimer
John Campbell - Stephens
Operator
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 your host, Mark Hood, EVP of Operations and Investor Relations. Mark, please go ahead.
Mark Hood
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 Souder, Chief Operating Officer; and Amanda Coussens, 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 27-A of the Securities Act of 1933, Section 21-E 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, 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.
Robert Alpert
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.