Great Ajax Corp. (NYSE:AJX) Q4 2023 Earnings Conference Call July 24, 2023 8:00 AM ET

Company Participants

Michael Nierenberg - Chief Executive Officer
Mary Doyle - Principal Financial Officer and Principal Accounting Officer

Conference Call Participants

Eric Hagen - BTIG
Stephen Laws - Raymond James
Jason Stewart - Janney Montgomery Scott

Operator

Good day and welcome to the Great Ajax Second Quarter 2024 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Emma Boling. Please go ahead.

Unidentified Company Representative

Thank you, and good morning, everyone. I would like to thank you for joining us today for Great Ajax's Second Quarter 2024 Earnings Call. Joining me today are Michael Nierenberg, Chairman, CEO and President of Rithm Capital and CEO of Great Ajax; and Mary Doyle, Principal Financial Officer of Great Ajax.

Throughout the call, we are going to reference the earnings supplement that was posted this morning to the Great Ajax website www.greatajax.com. If you've not already done so, I'd encourage you to download the presentation now.

I would like to point out that certain statements made today will be forward-looking statements. These statements, by their nature, are uncertain and may differ materially from actual results. I encourage you to review the disclaimers in our press release and earnings supplement regarding forward-looking statements and to review the risk factors contained in our annual and quarterly reports filed with the SEC.

In addition, we will be discussing some non-GAAP financial measures during today's call. Reconciliations of these measures to the most directly comparable GAAP measures can be found in our earnings supplement.

And with that, I will turn the call over to Michael.

Michael Nierenberg

Thanks, Emma. Good morning, everyone, and for those of you that are joining us this morning, we appreciate you dialing in.

Today's call is really about the future. When we first embarked on this from the Rithm perspective, we looked at this vehicle and thought, let's look back to the playbook that we established back at Fortress in 2013, where we saw dislocations in the MSR market.

And based on that, we created a vehicle that we seeded with $1 billion of capital. And then today, that vehicle is known as Rithm Capital, which has $7.2 billion of equity capital, a large balance sheet and is a world-class asset manager.