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Main Street Capital (NYSE: MAIN) Q4 2023 Earnings Call Feb 23, 2024 , 10:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Greetings, and welcome to the Main Street Capital Corporation fourth-quarter earnings conference call. Image source: The Motley Fool. Thank you, Mr. Vaughan.
Our clients need capital, and our debt brokerage team did a fantastic job finding the appropriate capital for their needs. Importantly and atypically, over half of our Q1 debt brokerage dealflow was on non-multifamily assets in retail, hospitality, industrial, and office. billion, up 40% year over year.
Our own data over the past two quarters has also shown new deals priced more reasonably, both for follow-on investments in our top performers, and for new companies as well. If you come across impressive founders looking to raise capital within our areas of focus, I appreciate you sharing those opportunities with me.
When I started leading deals at First Round Capital, I sourced investments in 8 companies. I watched Twitter blow up at SXSW in 2007—even got into the Twitter book about surfacing it to the USV team, which was awesome except for the part where Nick Bilton (of all people) felt the need to describe me as “shorter” (I’m 5’11”, thank you).
According to Cooley, which handles more venture financings than any other law firm in the US, the amount of capital invested, and number of financings, have decreased substantially in the last quarter , with the most pronounced impact affecting later-stage deals (Series C and beyond). into 86 companies across 109 investments.
There are occasional windows or gates that open and you could take some capital out. Generally we have a one to maybe two year lockup where you can, you can’t access that capital. What have you found, given your background running small cap at one point in time and now doing a little bit later late stage venture capital?
The transcript from this week’s, MiB: Armen Panossian, Oaktree Capital Management , is below. Armand Posiion is head of performing credit at Oaktree Capital Management, where he works with the likes of, of Bruce Kosh and Howard Marks. You joined in 2007. Another extra, extra special guest. Your, your timing was fortuitous.
And back then, you know, again, it was a very interesting place to be because they had lots of capital and they had lots of clients. And it was backed by the largest bank in France, it was called Indosuez Capital. It got filled ultimately, initially by, you know, some of these more esoteric businesses like Indosuez Capital.
Our limited partners have benefited from the exceptional balance of the firm and the careful way we've positioned their capital in a volatile world. Overall, with the cost of capital moving lower, market confidence returning, we believe we're entering a supportive environment for our business.
Our third quarter financial results reflect an improving market that benefited from healthy fundamentals in commercial real estate that are attracting capital to the market and driving an increase in acquisition and financing activity. Due to increased dealflow and revenues, we grew diluted earnings per share 33% year over year to $0.85
Current expectations are that there will be approximately $1 trillion of capital expenditures in the United States over the next five years to build and facilitate new data centers with another $1 trillion of capital expenditures outside the United States. We're also providing equity and debt capital to other AI-related companies.
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