Great. This website must be read in conjunction with the applicable offering documents or Private Placement Memorandum in order to understand fully all of the implications and risks of investing in real estate and a copy of the offering documents must be available to you in connection with any offering. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. What's the investment trend over time for this hub? Before we begin, Ill start with some important reminders. Please check your spam or junk folder just in case Our focus on unitranche opportunities allows us to offer even greater certainty of execution to our private equity sponsors and enables us to enhance our yield opportunity while remaining at the top of the capital stack. Total investment income of $34.6 million for the fourth quarter, the highest quarterly figure weve reported since inception compares to $29 million for the prior quarter, representing an increase of approximately 19%. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. This call is being recorded on Thursday, February 23, 2023. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Privacy Policy Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Crescent Capital is a Belfast based venture capital fund manager. As of year-end, this GAAP expense accrual has been fully reversed. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Read More To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You can sign up for additional alert options at any time. Consistent with Crescents track record of investing through cycles over the past 30-plus years, we believe we have constructed a portfolio that consists of companies that are adequately capitalized to address the current macroeconomic environment and have taken a proactive approach to bolstering liquidity in select situations where it may be warranted. This situates us well to benefit from increases in base rates above our average floors as is the case this quarter with continued growth in our interest income line item. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Do you expect to be running lower leverage than was the case to present historically? Thank you. Something went wrong while submitting the form. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Discover more about our company and values. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. The obvious, I mean, how you gave the interest coverage based on year-end rates. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. 2023 Crescent Capital Group LP. While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. And it means its going to be harder than ever to hold onto any money you make. Get our editors daily picks straight in your inbox! Please turn to Slide 15 where we highlight our recent activity. In addition, a reconciliation of this measure may also be found in our earnings release. All rights reserved. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Crescent Capital Group LP ("Crescent"), a leading alternative credit investment firm, announced today the successful final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII ("CCS Fund VIII"), raising $8 billion in investable capital, including targeted leverage and separately managed . Terms & Conditions Operator: Ladies and gentlemen, this does conclude our conference call for today. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. LOS ANGELES, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ: CCAP) today reported net investment income of $59.7 million, or $1.93 per share, and adjusted net investment income of $53.4 million, or $1.73 per share, for the year ended December 31, 2022. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We are proud to have globally leading NPS scores with our executive partners. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. In short, a powerful new economic force is quietly building behind Joe Biden and Im confident Biden can harness this forces inevitable wave, carrying him to a LANDSLIDE re-election win. Warren Buffett has been investing and compounding for at least 65 years. ", "Crescent partnered with us and assisted in achieving our growth targets. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. The total size of the investment portfolio is around USD 400 million which . Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Don't have an account? For more information about Crescent Capital Group, please visit www.crescentcap.com. Reduced net debt by approximately $850 We believe this is an important distinction to highlight for shareholders in a volatile market environment. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Another, on your deployments in the quarter, obviously will follow on. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Finally, for the first quarter of 2023, our Board declared a $0.41 per share quarterly cash dividend, which will be paid on April 17, 2023, to stockholders of record as of March 31, 2023. All data as of 12/31/2022. Actually Warren Buffett failed to beat the S&P 500 Index in 1958, returned only 40.9% and pocketed 8.7 percentage of it as fees. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Im going to ask you a question that sort of relates to credit . Get the full list, Morningstar Institutional Equity Research. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. The decline relates primarily to unrealized losses we took to reflect wider credit spreads in the market as volatility within the leveraged finance and equity markets continued during the fourth quarter. . In a free sample issue of our monthly newsletter we analyzed Warren Buffetts stock picks covering the 1999-2017 period and identified the best performing stocks in Warren Buffetts portfolio. Our net investment income outpaced our regular dividend by $0.11 per share, which was offset by net unrealized depreciation on investments of $0.44 per share. LOS ANGELES, February 28, 2023--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that Jonathan Harari has joined the company as Global Head of its Investor . As you can see on the right-hand side of the slide, we have a low level of debt maturities over the next few years with $150 million maturity related to our 5.95% unsecured notes in July 2023. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. You can sign up for additional alert options at any time. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Description. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Wed like to thank all of you for your continued support and time today. Which companies in this hub have the most subsidiaries? And we remain well diversified across 18 industries and continue to lend almost exclusively to private equity-backed companies with 98% of our debt portfolio in sponsor-backed companies as of year-end. (310) 235-5900 Warren Buffett took 25% of all returns in excess of 6 percent. Networking We provide expertise and exposure to a network of relevant business contacts. LOS ANGELES, February 28, 2023--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that Jonathan Harari has joined the company as Global Head of its Investor Solutions Group. He launched his hedge fund in 1956 with $105,100 in seed capital. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. The good news is, this powerful new force can help you make a lot of money even in a bear market. Get the full list, Youre viewing 10 of 31 exits. Gerhard will then review our financial performance during the fourth quarter. Henry? "Jonathan brings a wealth of investor relations experience to Crescent, and we are excited for his leadership as we seek to grow our client relationships and respond to the increasing demand for our alternative credit offerings," said Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. And then one more, if I can. Crescent Bit Capital is a type of secure investment that grows your money at a guaranteed rate based of chosen plan of interest for a fixed period of time. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. At December 31, our stockholders equity was $613 million, resulting in net asset value per share of $19.83 as compared to $623 million or $20.16 per share last quarter and $652 million or $21.12 per share at December 31, 2021. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 30+ years experience in operating roles and M&A, 20+ years in healthcare sector including private equity investments, 20 years experience in strategy consulting, private equity and banking, 25+ years experience in financial management and accounting, 15 years experience in strategy consulting and private equity. ", "Crescents practical and analytical approach enabled management to hit their goals. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. We seek to maximize the total return of our stockholders in the form of current income and capital appreciation by providing capital solutions to companies with sound business fundamentals and strong growth prospects. It is ideal for investors looking for capital security.Open to Asia , Europe , America ,and Africa on Investment / Financial Plan Portfolio Office Customer Support Hours: Monday - Sundays Wed be happy to take your questions, and please understand that we may be limited in some answers due to the ongoing First Eagle transaction. Oops! Our adjusted net investment income per share of $0.49 for the fourth quarter of 2022 compares to $0.42 per share for the prior quarter and $0.43 per share for the fourth quarter of 2021. He also served as a member of the hedge fund solutions group at The Blackstone Group, L.P., where he focused on business development efforts across the Northeast and Southeast U.S. working with a diverse array of institutional clients. (310) 235-5900 "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Your submission has been received! With that, Id now like to turn it over to Jason. That means much bigger government. So, how did Warren Buffett manage to generate high returns and beat the market? We provide support for founders and senior management teams to accelerate the achievement of their goals. Please also note that past performance or market information is not a guarantee of future results. Or is that just a timing? Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? You can get rich by returning 20% per year and compounding that for several years. If youre looking for capital and an active partner to accelerate the growth of your business or thinking about exiting by bringing in new investors, please feel free to contact me by phone or email to find out more. | PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. How much aggregate funding have these organizations raised over time? . Now lets shift to capitalization and liquidity. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. This video is provided by the Australian Investment Council. We have raised six funds since 2000 and we are a top quartile manager on global metrics. | Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. Venture Capital Portfolio. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. We look forward to speaking with you again soon. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Along the way, I believe Biden could become one of the most powerful Presidents in history. Private Equity Round - Integrity Marketing Group, Gladstone Wealth Partners acquired by Integrity Marketing Group, American Health Plans acquired by Integrity Marketing Group, PHP Agency acquired by Integrity Marketing Group, Compass Group Insurance acquired by Integrity Marketing Group, Richman Insurance Agency acquired by Integrity Marketing Group, Investor, Startup, Company or School that the hub is based on, Total number of organizations associated with this hub, Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of founders of organizations in the hub, Average date the Organization was founded, Percentage of organizations in this hub that have been acquired, Percentage of organizations that have gone public with an IPO, Total number of for-profit companies in this hub, Last Funding Round type of organizations in the hub (e.g. Average Retirement Savings By Age: Are You Normal? This means the bullish number of . March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. it's been delivered there. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. Get the full list, Youre viewing 5 of 21 co-investor. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. | Crescent Capital is a Belfast based venture capital fund manager We immerse ourselves in your business Experience With our experience and knowledge we can unlock the full potential of your business. Access to our investment and operational team brings unparalleled support to our portfolio companies. Healthcare is Crescent's largest sector by investment. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. The Crescent Capital IV Development Fund was launched amid much fanfare 18 months ago to build on the success of forerunner funds, from which some of Northern Ireland's most exciting. Shares added by 1.69% iShares Russell 1000. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. ", "I strongly recommend working in partnership with Crescent Capital. Use of this website is governed by the Terms and Conditions. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. Gross deployment in the fourth quarter was $46 million. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Through our deep inhouse expertise assisting emerging and growth companies across Australia and New Zealand since 2000, we have raised over $3bn across six funds and completed more than 45 foundation investments and assisted our portfolio companies with over 150 follow-on acquisitions. Excuse me. We still like this investment. The company assumes no obligation to update any such forward-looking statements. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Product Marketing and Business Development Director. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 2023 PitchBook. Please turn to Slide 6, where youll see a summary of our results. Jason Breaux: Sure. Video: Melinda McGrath, CEO Australian Clinical Labs. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. I would now like to turn the conference over to Dan McMahon. Thank you again, everyone for your interest and support of CCAP. But I would say overall, we are pleased with the underlying performance of the portfolio. After submitting your request, you will receive an activation email to the requested email address. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. What's the most common final funding type when companies get acquired? management team, and recent news are also included.
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