...A. This morning, we issued our financial results for the second quarter of 2023, reporting fee-related earnings, or FRE of $0.17 per share and distributable earnings or DE of $0.16 per share. B. We had declared a dividend of $0.14 per share for the second quarter, payable on August 31 to holders of record as of August 21. C. Today, we reported another strong quarter of results for Blue Owl, again, demonstrating the steady and resilient growth that we believe sets us apart in the alternative asset management space. D. We would generate substantial growth through a variety of market environments, anchored by our base of permanent capital, and we would provide an earnings stream that looked much less volatile than peers with earnings supported almost entirely by management fee streams. E. Over the past 2 years, markets have shifted rapidly from a 0 interest rate environment and robust capital markets to over 500 basis point Fed funds rates and meaningful declines in M&A and public issuance....
