Ladies and gentlemen, thank you for standing by, and welcome to the Great Elm Capital Group's Fiscal First Quarter 2021 Earnings Call. [Operator Instructions] I would now like to hand the conference over to one of your speakers for today, Adam Yates, Managing Director. Please go ahead, sir.

Thank you, Carol, and good morning, everyone. Thank you for joining us for Great Elm Capital Group's Fiscal First Quarter 2021 Earnings Conference Call. As a reminder, this webcast is being recorded on Monday, November 16, 2020. If you'd like to be added to our distribution list, you can either e-mail investorrelations@greatelmcap.com or sign-up for alerts directly on our website. The slide presentation accompanying this morning's conference call and webcast can be found on Great Elm Capital Group's website, www.greatelmcap.com under Events and Presentations. A link to the webcast is also available on our website as well as in the press release that was disseminated to announce the quarterly results. I'd like to call your attention to the customary safe harbor statement regarding forward-looking information. Also, please note that nothing in today's call constitutes an offer to sell or a solicitation of offers to purchase our securities. Today's conference call includes forward-looking statements and projections, and we ask that you refer to Great Elm Capital Group's filings with the SEC for important factors that could cause actual results to differ materially from these projections. Great Elm Capital Group does not undertake to update its forward-looking statements unless required by law. To obtain copies of the SEC filings, please visit Great Elm Capital Group's website under Financial Info and select SEC Filings. Hosting our call this morning is Peter Reed, Great Elm Capital Group's Chief Executive Officer. I will now turn the call over to Peter.

Thank you, Adam, and good morning, everyone. Thank you for joining us today. I'm joined this morning by our President and COO, Adam Kleinman; our CFO, Brent Pearson; and 2 senior members of our investment team, Adam Yates and John Ehlinger. We will walk through an update on our operating companies, Investment Management, Real Estate and general corporate business segments as well as their associated financials. Where relevant in our prepared remarks, we will point you to the corresponding slide in the presentation that Adam referenced. There are a number of objectives on which we're focused to achieve long-term success for GEC and our shareholders. We are focused on growing DME EBITDA and free cash flow, both organically and via M&A. We are focused on increasing the free cash flow generated by our Investment Management business. We believe that the best way to achieve this increase is by successfully monetizing existing investments and growing assets under management as we've recently done. We've also focused on continuing to reduce our corporate overhead as we grow cash flows in both our DME and Investment Management businesses. This multipronged approach is the foundation for how we plan to increase equity value per share at GEC throughout fiscal year 2021 and beyond. Please turn to Slide 4 to review a note to shareholders. We have good momentum in both our DME business and our Investment Management business. Despite the negative impact of COVID-19, DME grew revenue by 10.4% year-over-year in the quarter. DME generated $2.8 million of adjusted EBITDA during the quarter, down from $3.0 million last year as certain operating costs increased. Importantly, DME has resumed its search for attractive, add-on acquisition candidates. It is looking for businesses with complementary product lines in our existing or tangential geographic markets. In our Investment Management…

[Operator Instructions] And as we have no questions at this time, I'll turn the call back over to Adam Yates for final comments.

Thank you again for joining us this morning to discuss Great Elm Capital Group's Fiscal First Quarter 2021 Financial Results. We appreciate your support, and we look forward to creating long-term shareholder value together. Please do not hesitate to reach out to us if we can be helpful with anything in follow-up and have a great day.

Ladies and gentlemen, this does conclude today's conference call. Thank you again for participating. You now disconnect.