Today's conference call and webcast may include forward-looking statements and projections, and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these statements and projections. We do not undertake to update our forward-looking statements or projections unless required by law.To obtain copies of our latest SEC filings, please visit our website at www.apolloic.com. At this time, I'd like to turn the call over to Jim Zelter. James Charles Zelter Thank you, Elizabeth. As you've probably seen, we issued our third quarter earnings press release and filed our quarterly Form 10-Q with the Securities and Exchange Commission this morning. In today's release, in addition to our quarterly earnings, we have made some important announcements that I will discuss. Following my remarks, Eileen will provide you with an overview of some of our new strategic endeavors. Finally, Gene will discuss our third quarter portfolio performance and financial results and we will then open the call to your questions. As I step back, Apollo Investment Corporation was one of the first sizable business development companies, or BDCs, prior to the credit crisis of 2008. During that period of time, BDCs, such as AINV, generally played an auxiliary role in the financial services landscape, primarily providing credit to middle market sponsors for leveraged buyouts. However, as we strategically review the BDC industry and the financial services via environment in the aftermath of the global credit crisis and during a period of continued economic and regulatory uncertainty, which persists today, we believe BDCs can play a more significant role in the current financial landscape. We believe BDCs can still the sizable gap left by numerous banks and other financial institutions that have dramatically altered their business models, reduced their balance sheet or disappeared altogether. Unlike many other debt providers, the attribute of a permanent capital is a distinct BDC advantage that is relatively unique in a credit market consumed by investor liquidity and a multiple of fund products sensitive to that dynamic.
More specifically, we believe BDCs, such as AINV, are well-positioned to evolve in the current environment to become private market debt solution providers. Historically, we have a been almost singularly focused on providing acquisition finance as financial sponsors. We need to broaden our product across the capital structure. And in order to capitalize on this opportunity, we are methodically working to broaden our portfolio and then turn our product offering to provide a wider array of proprietary debt solutions and we are also striving to enhance our proprietary origination efforts. Eileen will elaborate on this point during her remarks.Given the opportunities that we believe are available to us in the broad financial services landscape, the board has decided to make several changes with respect to AINV's senior management, our dividend and capital base. Turning first to senior management changes, in addition to my role as CEO, effective immediately, I will serve as the company's interim President and interim Chief Investment Officer for Apollo Investment Management. As you may have seen this morning in this morning's press release, we are very pleased that Ted Goldthorpe, who spent his entire career at Goldman Sachs, has agreed to join AINV as President and Chief Investment Officer of our investment manager. He is expected to join in the next 90 days. We are confident that Ted will play a significant role in enabling us to expand our proprietary origination footprint and execute our strategic goals. We believe that his extensive background and expertise in a variety of private debt capital market situations, Ted is particularly qualified to take on investment leadership role at AINV. This morning, we also announced the management change at the CFO level at AINV. Gene Donnelly, who's currently the CFO for Apollo Global Management has agreed to serve as AINV's interim CFO and Treasurer until a permanent replacement has been appointed by the board, which we expect will happen within the next week. Read the rest of this transcript for free on seekingalpha.com