Summary of Great Elm Group (GEG) Conference Call Company Overview - **Company**: Great Elm Group (GEG) - **Event**: Conference call regarding Great Elm Real Estate Ventures - **Date**: August 1, 2025 Key Points Industry Insights - **Industrial Outdoor Storage (iOS)**: Identified as an underserved asset class with significant potential for innovation and growth [4][5] - **Macroeconomic Factors**: Reshoring of manufacturing, increasing tariffs, AI-driven data infrastructure, and energy transition initiatives are driving domestic demand for industrial real estate [12] Strategic Developments - **Partnership with Kennedy Lewis**: GEG entered a strategic partnership with Kennedy Lewis Investment Management, managing over $30 billion in assets [6] - **Investment Details**: Kennedy Lewis acquired 4.9% of GEG's common stock at approximately $2.11 per share and will invest up to $150 million in Monomoy Properties REIT [7][8] - **Debt Financing**: Includes a $100 million term loan to Monomoy Properties REIT with an option for an additional $50 million [8] Growth Objectives - **Revenue Targets**: Aiming to grow revenue from Monomoy platform companies from approximately $5 million in fiscal 2025 to $20 million in fiscal 2026, and $100 million by fiscal 2030 [12] - **Asset Growth Goal**: Targeting to grow real estate assets to $1 billion by 2030 [12] Operational Enhancements - **Integrated Real Estate Business**: GEG has developed a comprehensive real estate business with structural advantages and recurring revenue streams [5][6] - **New Services**: Launched Monomoy Construction Services to enhance in-house capabilities [5][10] Market Positioning - **Competitive Edge**: The partnership with Kennedy Lewis is expected to provide a seasoned approach to scaling and monetizing high-potential real estate platforms [10][11] - **Future IPO Potential**: The growth trajectory positions Monomoy REIT for a potential public listing [12] Financial Health - **Current Asset Base**: Monomoy REIT has approximately $400 million in assets across 150 properties in 29 states, servicing 49 unique tenants [9] Conclusion - **Long-term Vision**: The partnership and strategic initiatives are seen as a defining moment for GEG, aiming to deliver durable, compounding returns for shareholders [13] Additional Important Information - **Forward-Looking Statements**: The call included forward-looking statements, and participants were advised to refer to SEC filings for important factors that could cause actual results to differ [2][3] - **Call Structure**: The call included a question and answer session following the formal presentation [1][14]