Weston Tucker | Head, IR and MD, External Relations & Strategy Group |
Stephen Schwarzman | Founder, Chairman & CEO |
Michael Chae | CFO & Senior MD |
Hamilton James | Executive Vice Chairman |
Jonathan Gray | President & COO |
Joan Solotar | Senior MD and Head, Multi-Asset Investing & External Relations |
Craig Siegenthaler | Crédit Suisse AG |
Alexander Blostein | Goldman Sachs Group |
William Katz | Citigroup |
Patrick Davitt | Autonomous Research |
Michael Cyprys | Morgan Stanley |
Robert Lee | KBW |
Kenneth Worthington | JPMorgan Chase & Co. |
Glenn Schorr | Evercore ISI |
Devin Ryan | JMP Securities |
Michael Carrier | Bank of America Merrill Lynch |
Brian Bedell | Deutsche Bank AG |
Good day, ladies and gentlemen, and welcome to the Blackstone First Quarter 2018 Investor Call. My name is Derek, and I'll be your operator for today. [Operator Instructions]. At this time, I would like to turn the conference over to Mr. Weston Tucker, Head of Investor Relations.