Operator Good day, and welcome to Ares Management Corporation's Fourth Quarter and Year End 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded on Thursday 11, 2021. I will now turn the call over to Carl Drake, Head of Public Company Investor Relations for Ares Management. Please go ahead. Carl Drake -- Partner, Head of Public Investor Relations and Communications Good afternoon, and thank you for joining us today for our fourth quarter and 2020 year end conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer and Michael McFerran, our Chief Operating Officer and Chief Financial Officer. In addition, Bennett Rosenthal, Co-Chairman of our Private Equity Group, Kipp deVeer, Head of our Credit Group, Bill Benjamin, Head of our Real Estate Group, Scott Graves, Co-Head of our Private Equity Group and Blair Jacobson Co-Head of European Credit will also be available for the question-and-answer session.