Logan Ridge Finance Corporation (NASDAQ:LRFC) Q4 2023 Results Conference Call March 28, 2024 10:00 AM ET

Company Participants

Ted Goldthorpe - Chief Executive Officer, President & Director
Patrick Schafer - Chief Investment Officer
Brandon Satoren - Chief Accounting Officer

Conference Call Participants

Christopher Nolan - Ladenburg Thalmann
Steven Martin - Slater Capital

Operator

Good morning, and welcome to Logan Ridge Finance Corporation's Fourth Quarter and Full Year ended December 31, 2023 Earnings Conference Call. An earnings press release was distributed yesterday after the close of the market.

A copy of the release along with a supplemental earnings presentation is available on the company's website at www.loganridgefinance.com in the Investor Resources section and should be reviewed in conjunction with the company's Form 10-K filed with the SEC. As a reminder, this conference call is being recorded for replay purposes.

Please note that today's conference call may contain forward-looking statements, which are not guarantees of performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the company's filings with the SEC.

Speaking on today's call will be Ted Goldthorpe, Chief Executive Officer, President and Director of Logan Ridge Finance Corporation; Brandon Satoren, Chief Accounting Officer; and Patrick Schafer, Chief Investment Officer. With that, I would like to turn the call over to Ted Goldthorpe, Chief Executive Officer of Logan Ridge Finance Corporation. Please go ahead, Ted.

Ted Goldthorpe

Thank you, and good morning. Welcome to our fourth quarter and full year 2023 earnings call. As I mentioned, I'm joined today by Brandon Satoren and our Chief Investment Officer, Patrick Schafer. Following my opening remarks, Patrick will provide additional details on our investment activity to date and Brandon will walk through the financials.

I'd like to start by highlighting that 2023 was a record year for Logan Ridge as we're able to reintroduce the quarterly dividend as well as record the highest level of annual investment income -- net investment income since we began managing the company in July of 2021. This success is largely a continuation of the performance trajectory Logan has been on since we reported our first quarter of positive net investment income for the quarter ended September 30, 2022.

As the company's exposure to the [indiscernible] equity portfolio has continued to decline and its exposure to credits originated by the BC Partners credit platform has increased, the benefit to shareholders has been clear and has been reflected through Logan's strong financial results. With that in mind, I will keep our prepared comments brief today and limit it to a few key highlights with Patrick and Brandon providing more detail on shortly.