Ares Capital Corporation (NASDAQ:ARCC) Q1 2024 Earnings Call Transcript

Kipp DeVeer: I don’t think there’s any significant trend. I just looked at Scott and he whispered a word, it’s episodic, which I think it just comes quarter-to-quarter, and it’s not all that easy to predict. I wouldn’t take any big picture trend away from some of that data.

Mitch Goldstein: Hey Robert, it’s Mitch, I think you have to look at when M&A picks up, a lot of our preferred where we like to invest down the balance sheet where we see real value is based on exits, right? And when M&A picks up, you’ll see a lot of that preferred come through when M&A is slow, you’ll see that just continue to stay out there, which we’re happy to because the companies are performing.

Robert Dodd: Got it. Understood. Thank you.

Kipp DeVeer: Thank you.

Operator: This concludes our question-and-answer session. I’d like to turn the conference back over to Mr. Kipp DeVeer for any closing remarks.

Kipp DeVeer: I’ll just thank everybody for their participation today and look forward to speaking to you all next quarter.

Operator: Thank you. Ladies and gentlemen, this concludes our conference call for today. If you missed any part of today’s call, an archived replay of the call will be available approximately one hour after the end of the call through May 30th at 5 P.M. Eastern Time to domestic callers by dialing 1-800-839-5635 and to international callers by dialing 1-402-220-2561. An archived replay will also be available on a webcast link located on the homepage of the Investor Resources section of Ares Capital’s website.