MidCap Financial Investment Corporation (NASDAQ:MFIC) Q4 2022 Earnings Conference Call February 21, 2023 5:00 PM ET

Company Participants

Elizabeth Besen - Investor Relations Manager

Tanner Powell - Chief Executive Officer

Ted McNulty - President

Greg Hunt - Chief Financial Officer

Howard Widra - Executive Chairman

Conference Call Participants

Mark Hughes - Truist

Robert Dodd - Raymond James

Ryan Lynch - KBW

Melissa Wedel - JPMorgan

Operator

Good afternoon, and welcome to the earnings conference call for the period ended December 31, 2022 for MidCap Financial Investment Corporation. [Operator Instructions]

I will now turn the call over to Elizabeth Besen, Investor Relations Manager for MidCap Financial Investment Corporation.

Elizabeth Besen

Thank you, operator, and thank you, everyone, for joining us today. Speaking on today’s call are Tanner Powell, Chief Executive Officer; Ted McNulty, President; and Greg Hunt, Chief Financial Officer. Howard Widra, Executive Chairman, as well as additional members of the management team are on the call and available for the Q&A portion of today’s call.

I’d like to advise everyone that today’s call and webcast are being recorded. Please note that they are the property of MidCap Financial Investment Corporation and that any unauthorized broadcast in any form is strictly prohibited. Information about the audio replay of this call is available in our press release.

I’d also like to call your attention to the customary safe harbor disclosure in our press release regarding forward-looking information. Today’s conference call and webcast may include forward-looking statements. You should refer to our most recent filings with the SEC for risks that apply to our business and that may adversely affect any forward-looking statements we make. We do not undertake to update our forward-looking statements or projections unless required by law. To obtain copies of our SEC filings, please visit our website at www.midcapfinancialic.com.

I’d also like to remind everyone that we posted a supplemental financial information package on our website, which contains information about the portfolio as well as the company’s financial performance. Throughout today's call, we'll refer to MidCap Financial Investment Corporation as either MFIC or the BDC and we'll review it's MidCap Financial to refer to the lender headquartered in Bethesda, Maryland.

At this time, I’d like to turn the call over to our Chief Executive Officer, Tanner Powell.

Tanner Powell

Thank you, Elizabeth. Good afternoon, everyone, and thank you for joining us today. I'd like to begin today's call by highlighting our results for the quarter followed by a review of our investment strategy, including some performance data, which we believe shows why we're so confident in our strategy. I'll then provide an update on the good progress we've made reducing our investment in Merx, and we'll conclude with the increase to our quarterly dividend. Following my remarks, Ted will review our investment activity and provide an update on portfolio credit quality. Lastly, Greg will review our financial results in detail and provide some additional comments on Merx. We will then open the call to questions.