雅虎香港財經 Beneficient (NASDAQ:BENF) Q2 2024 Earnings Call Transcript
Beneficient (NASDAQ:BENF) Q2 2024 Earnings Call Transcript November 17, 2023
Operator: Good day, and thank you for standing by. Welcome to the Beneficient Second Quarter Fiscal 2024 Earnings Call. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Rost, General Counsel. Please go ahead.
David Rost: Good afternoon. And thank you for joining us today for Beneficient’s fiscal second quarter 2024 conference call. In addition to this call, we issued an earnings press release that was posted to the Shareholder section of our website at shareholders.trustben.com. Today's webcast is being recorded, and the replay will be available on the company's website at shareholders.trustben.com. On today's call, management's prepared remarks and answers to questions may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those discussed today. Forward-looking statements represent management's current estimates and Beneficient assumes no obligation to update any forward-looking statements in the future.
Today's call also contains certain non-GAAP financial measures. Please refer to our earnings press release, which is available on our Web site for important disclosures regarding such measures, including reconciliations to the most comparable GAAP financial measures. Hosting the call today are Mr. Brad Heppner, CEO and Chairman; and Mr. Greg Ezell, CFO. Following the prepared remarks, we will answer selected questions that were submitted through our Investor Relations Web site at shareholders.trustben.com. Now, I will hand the meeting over to Mr. Heppner.
Brad Heppner: Thank you, David. And good afternoon, and thank you for joining us for our first earnings call as a public company. On today's call, I will provide some insight into how Ben goes to market, an update on some key topics, and Greg will share some highlights from our results for our second fiscal quarter 2024 ended on September 30, 2023. Since our listing in June this year, we have secured our recent financing, enhanced our AltAccess tech platform and expanded our liquidity product offerings. I will now share a quick history and summarize the advantages of the Beneficient model. Ben is built to address the financial services needs of investors and sponsors within the illiquid private investment market. There are two kinds of asset markets; those that are liquid, such as stocks, bonds, currencies, commodity derivatives, mortgages; and then those that are illiquid, such as real estate, private companies and private fund partnerships, just to name a few.
Ben aims to be the primary provider of liquidity solutions and financial services for investors in private markets. For the last millennium, illiquid markets have been transforming into liquid markets. Starting with family sponsored banking networks for more efficient capital formation, market-after-market has evolved from illiquidity toward increasing liquidity. This process has progressed in ways driven by technology and innovation that has increased and broadened access to opportunities for investors, which expands the market itself. Our mission is simple. Ben exists to transform the market for fund partnership interests and alternative asset investments from an illiquid market into a more liquid market available to everyone or stated simply, complete democratization.
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