crescent capital portfolio

Read More Our Strategy Learn more about our investing strategy. You talked about, obviously, youve lowered leverage ahead of that acquisition. A couple of reminders as it relates to the transaction. 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. 2023 Crescent Capital Group LP. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Privacy Policy 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Get the full list, Youre viewing 4 of 6 team members. 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. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Discover more about our company and values. 2023 PitchBook. 2009 Crescent Capital, All Rights Reserved. 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. Product Marketing and Business Development Director. . Im going to ask you a question that sort of relates to credit . But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Crescent Capital is unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. Focus on Seed and Series A. The company has a one-year high of $10.68 and a one . We have just sent you an email so you can verify your account. Click The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Get the full list, Youre viewing 5 of 21 co-investor. Henry Chung: Thanks, Jason. 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 . 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. Real Estate Portfolio Direct and LP investments across various asset types across the United States, including commercial, retail, multi-family, residential, hotel, development, self-storage and RV Parks. Do you expect to be running lower leverage than was the case to present historically? Jason Breaux: Okay. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Your submission has been received! Jason Breaux: Yes. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. ", "It has been Crescents human capital that has been most valuable to us. 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. 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. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. That would have been 9.35% in hedge fund fees. Please also note that past performance or market information is not a guarantee of future results. I would now like to turn the conference over to Dan McMahon. And with that, operator, please open the line for questions. Website by GCI. Robert Dodd: Hi guys. Crescent Capital Partners General Information. Networking We provide expertise and exposure to a network of relevant business contacts. Moving to the right-hand side of the page, youll see that our unitranche first lien investments have continued to become a more prominent percentage of our total portfolio, accounting for 66% of total portfolio fair value at year-end compared to 59% the year prior. Turning back to this quarters earnings. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. He launched his hedge fund in 1956 with $105,100 in seed capital. Back then they werent called hedge funds, they were called partnerships. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2022. This has proven to be a competitive advantage, particularly in the current lending environment. And with that, Id like to turn it back to Jason for closing remarks. Before we begin, Ill start with some important reminders. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. Crescents track record is successfully managing through multiple economic and market cycles, provides us with significant and relevant experience navigating what could be a challenging environment in 2023 and beyond. Something went wrong while submitting the form. | I mean, whats the how are things actually trending right now? Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Healthcare is Crescent's largest sector by investment. With more than 100 investment professionals and over 200 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. Video: Cameron Johnson, CEO Nucleus Network. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Which investors participated in the most funding rounds within this hub? We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Private Equity Portfolio. UAE-Based Edtech Startup Ostaz Is On A Mission To Become A One-Stop-Shop For Education, AirAsias Tony Fernandes Refocuses Back on a Superapp Just for Travel, Malaysia Healthcare Partners with AirAsia, Air India Express, AirAsia begin merger drill, MiL.k launched its first global point exchange service with airasia, Datactics Jamie Gordon on Big Financial Institutions and their Messy Datasets. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. We attributed the bulk of the quarters NAV decline to widening credit spreads. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. The total size of the investment portfolio is around USD 400 million which . Along the way, I believe Biden could become one of the most powerful Presidents in history. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Reduced net debt by approximately $850 Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. I think you said something to the effect of the portfolio companies have adequate liquidity, and in some cases, its been addressed or something like that. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Don't have an account? Use of this website is governed by the Terms and Conditions. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Investing in the future of finance, education, SaaS, logistics, and more. Our portfolio at fair value was comprised of the following: Great. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. The all time high for this statistics is 5. Warren Buffett took 25% of all returns in excess of 6 percent. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. We provide support for founders and senior management teams to accelerate the achievement of their goals. Legal Notice. Robert Dodd: Got it. Use of this website is governed by the Terms and Conditions. A few more updates before I turn it over to Henry. Read More Portfolio See our recent purchases and offers. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Average Retirement Savings By Age: Are You Normal? Good morning, everyone, and thank you for joining our earnings call. Gerhard will then review our financial performance during the fourth quarter. The companys actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Not the case? These are the top 5 holdings of Crescent Capital Consulting, LLC iShares Core S&P 500 ETF ( IVV) - 140,585 shares, 11.05% of the total portfolio. In our view, our long-term track record of strong credit performance and NAV stability since inception demonstrates the merits of our proven investment process as we work to deliver attractive results to our shareholders. 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 . Net realized losses were less than $0.05 per share. If you experience any issues with this process, please contact us for further assistance. We still like this investment. We thank you for your participation and ask that you please disconnect your lines. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. We are an equity partner that brings more than money to the relationship. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 2023 Crescent Capital Group LP. 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 While the higher rate environment is certainly beneficial from an earnings perspective, we are also cognizant of the fact that it is generally correlated with a slower U.S. economy which together can create more stress in the portfolio. This increase was driven primarily by rising base rates and higher spreads. This means the bullish number of . Or is that just a timing? Shares added by 1.69% iShares Russell 1000. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . 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. We are proud to have globally leading NPS scores with our executive partners. Get our editors daily picks straight in your inbox! Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. You should only be asked to sign in once. We did intentionally delever a bit here in Q4 in anticipation of the merger. Investors in our funds include both domestic and international pension funds and endowments. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Thank you again, everyone for your interest and support of CCAP. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. That being said, the broader Crescent private credit platform remained active with over $800 million of capital committed to new portfolio investments during the fourth quarter and over $5.5 billion for the full year. 87% in this quarter were raising one or two, so it appears pretty stable. SLC Fixed Income portfolios qualify as sustainable As of December 31, 2022 Key differentiators Experienced teams with deep private credit expertise Our investment teams have specialized in private debt for more than 40 years, offering the necessary skills to navigate a nuanced asset class. The good news is, this powerful new force can help you make a lot of money even in a bear market. Register now to read this article and more for free. Read More Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. The team brings together complementary backgrounds in structured finance, private equity, law, engineering, and project development, with more than 80 years of direct financing and investment expertise. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Thank you. That means much bigger government. How much aggregate funding have these organizations raised over time? We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. How are IPOs trending over time in this hub? Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. The company believes that adjusted NII per share provides useful information to investors regarding financial performance because its one method the company uses to measure its financial condition and results of operations. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. We initially share this idea in October 2018 and the stock already returned more than 150%. The fund was more than double the size of . Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Operator: Thank you. Crescent Credit. 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. . Please go ahead. We believe an active engagement model is a leading indicator of strong company performance. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Video: Melinda McGrath, CEO Australian Clinical Labs. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. Our success and reputation have been built on conservatism, ethics, passion, attention to detail, responsibility, and our belief that trust starts and ends with honesty and integrity. Please go ahead. Crescent raised its first fund in 1992 and has consistently been a leader in the private debt market, focusing on senior secured unitranche securities and junior debt. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. This website is neither an offer to sell nor a solicitation of an offer to buy securities. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Win whats next. 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. This video is provided by the Australian Investment Council. You can enter your email below to get our FREE report. All rights reserved. Weve generated significant investment income in the form of fees, dividends and accelerated amortization of OID from the Alcentra portfolio over close to the last two years having realized 136% of our cost basis with approximately $22 million of unrealized value remaining. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Oops! Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Crescent Capital BDC, Inc. (NASDAQ: CCAP) is a business development company focused on originating and investingin the debt of private middle market companies principally located in the U.S. 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. 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. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. bdcir@crescentcap.com. I believe it will make millions of Americans vastly wealthier. Crescent Capital is a Belfast based venture capital fund manager. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. A couple more worth highlighting. ET. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. And so on a pro forma combined basis, I think were going to end up sort of right in the middle of our target leverage range that we publicly stated as kind of 1.1 to 1.4. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. bdcir@crescentcap.com. And it means its going to be harder than ever to hold onto any money you make. What's the investment trend over time for this hub? The company's 90% portfolio is performing above expectations, while 89% of its portfolio. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. Crescent Capital is a Belfast based venture capital fund manager. 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. . The firm seeks to invest in middle-market companies across Australia and New Zealand with a focus on the industrial, financial services, healthcare, consumer brands, technology, and education sectors. Another, on your deployments in the quarter, obviously will follow on. You must click the activation link in order to complete your subscription. It has a well-diversified portfolio and is unique in that it also has international exposure. 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. 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. Total investment income again reached its highest level since inception and recurring yield related investment income continues to grow in both absolute dollars and as a percentage of our total revenue, which Gerhard will provide more color on. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. 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. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. 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 . We appreciate your continued interest in CCAP. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. 2023 Crescent Capital Investments Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard Powered by Investor Host, Multi-Family & Commercial Property Investing, Understanding How Real Estate Syndications Work in Practice, The Tax Benefits of Investing in Multifamily Real Estate. LP investments in high-growth and distressed companies in the United States and abroad. Robert Dodd: Got it. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs, Industrial manufacturing round-up; Personal care products; 2023 Women in PE, EQT and PSP team up on Radius acquisition; Charlesbanks Caitlin Riederer talks women in PE, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Fengate Private Equity-backed Inflector snaps up Donalco, Audax-backed Colony acquires New South Construction Supply. Video: Paul Wappett, CEO Australian Institute of Business. Jason reviewed several metrics related to our portfolio. Thank you, operator. Operator: Ladies and gentlemen, this does conclude our conference call for today. Our weighted average portfolio grade of 2.1 was unchanged as compared to the past few quarters, and the percentage of risk rated one and two investments, the highest ratings our portfolio companies can receive accounted for 87% of the portfolio at fair value, down modestly from last quarter. Can you give us any color around that? And then one more, if I can. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. 25+ years experience in strategy consulting, investment and business management and public company boards. You can sign up for additional alert options at any time. management team, and recent news are also included. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Two more credit trends to highlight. As a member of the Australian Investment Council, we are bound by a set of member standards including the Australian Investment Council Code of Conduct, as well as responsible investment and valuation guidelines. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Continued strong performance ratings and low nonaccrual levels. And on March 7, First Eagle is conducting a special meeting of its stockholders whereby they will be asked to adopt the agreement and plan a merger. We believe this is an important distinction to highlight for shareholders in a volatile market environment.

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