earnings Slide Thank you, I'll second summarizing $X.XX GAAP financial the by In six. Jeff. our per $X.XX. performance of of share recorded begin distributable and earnings on per share we quarter,
portfolio grew year, $X.X and managed Over $XX.X. XX% the our XX% we by last assets to to billion
Our XX% portfolio period compared driving the year. a is same to in income distributable investment net last increase
$XX gain half with year of year. for in fees anticipate this be recorded sale, million first and also prior on full year line the We income and to securitization
execution, different sale consistent Our gain for approximately we context any provide XXXX environments. maintained execution this on these XXXX, consistent To have macroeconomic has of and remained between in levels. our and fees doubled number some
into have a XXXX This from of shift anticipated derived We see growth. doubled our more also are be particularly see of and our is earnings continue higher larger a we important portion NII. level to where than visibility shift profitable in as to a portfolios
turn Slide Let's to seven.
million $X.X% beginning portfolio recent funded higher at from We investments closings second quarter. the of to during yields the to increased $XXX impact. their are X.X% and quarter, in Our show yield
we its fund transactions convert to expect As trend. we to yields, continue portfolio our pipeline yield and continue at upward higher newer
pleased working. our focus disciplined that X, margins Slide I'm On to on update is
managed Year-to-date, investment our our yields debt efficiently and constant. costs cost our revolver our program cash of position. managing hedging we've our remained While primarily debt are through and more increasing, has
the we XXXX, half our be on anticipate further of raises. focus to debt During second
higher we by expect debt this Although rate increase to yields. increasing we cost investment due offset interest the environment, time the being see some in of as over
around To we to XX X%. Using the a approximately behind levels refinancings entered from provide refinancings XX that context relating spread credit total increase rates bond debt refinancings. the cost this on into of for and and hedged hedges our current comment, questions lock rates, to trading We've estimate X.X%. in our received X.X% to we bond refinancing base would these some investor base
and with profitability. lead-in To portfolio however, refinancing a continued have level higher growth, on increasing We we years reiterate recovering. continued required, is even are yields on of are our X.X%, debt drive profitable investment than long-term my strong attractive more both a margins and before at into markets the margins two seeing visibility existing
recently industry Before address the have I to and move slides, not into on discuss two which trends I'd like on focus. liquidity to come capital,
future investment first relates bullish industry our and the in with The opportunities on continue fundamentals. residential highly clients residential to the solar to be volumes new market. solar remain We active on long-term
than our of Driven pipeline. business, by the continued our diversification residential XX% solar represents of less
to low The multiple trend quarterly performance. relates reporting wind clients, grid-connected second
a business data our downside wind and impact preferred forecast investment is in lower to equity our are investments, generally lifetime our similar risk. underwrite We muted on production the structures as we seeing however, mitigate
accrue cash collected however, this equity structures, and rate our will we are do collections cash our period current the future. preferred not collect period with the preferred in at lower, Our be
in million the over Moving liquidity with $XXX remains liquidity of million slides, sign a on our cover total undrawn of on $XXX shows emphasize I capacity. the bank our of from support increase strong Starting what upsize Slide banking especially back the aftermath STV. I'll a successful lending of a top total tight the to of to highlight in to $XXX unsecured XX backdrop We're and of confidence revolver a the of banks. more our by relationships, and to million nine, capital. of revolver in and left, pleased cannot our group this environment cash
quality have below company. that in the is we that originate The this evidence spread and two credit our remains confidence of lenders fact our the high assets
has investment-grade BB on is positive Additionally, development which continue as Plus we a recently placed rating. an encouraging to second a Fitch our rating outlook, target
capital. moment in also earlier. Notably, identified proceeds from the $X raise recent for The capital us are the guidance. a as focus foundational the leverage, positions to speak take plan. about It to the next enabling meet equity to Jeff year-term I'll investments XXXX offering this follow-on $XXX debt million billion accretive well us shift reduces to of our our
issuances our utilize for funding secured debt, diversified will additional corporate unsecured convertible of bonds. and platform We bonds,
syndications, pursue in on of continuing to been we active three again, behind our debt. us, all and the raised also We performance, with are execute tracking are which to markets, activities we're securitization moving and on equity We're capital-light. have both
XXXX are our growth. we on executing conclude, key To profitable focus,
engage we are to our with opportunity continue articulate the excited with platform. capture investor to our unique an to value will the community business, We of
With turn Jeff. back call that, I'll the to
