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You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. This dynamic is evidenced by our internal portfolio ratings at the end of the fourth quarter, largely consistent with prior quarters with 87% of the portfolio rated 1 or 2, our highest rating categories. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Venture Capital Portfolio For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. This means the bullish number of . We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Henry? Read More Investing in the future of finance, education, SaaS, logistics, and more. Robert Dodd: Hi guys. 2023 Crescent Capital Group LP. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. 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 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. We initially share this idea in October 2018 and the stock already returned more than 150%. 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. 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 . $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Our investment portfolio continues to consist primarily of senior secured first lien and unitranche first lien loans, collectively representing 90% of the portfolio at fair value, up from 89% in the prior quarter. 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 is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Crescent Capital - Investing in the future Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook Not the case? Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Video: Paul Wappett, CEO Australian Institute of Business. As far as the deployment in Q4, it was all normal course getting drawn on unfunded and existing commitments that we had to our portfolio companies. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results The good news is, this powerful new force can help you make a lot of money even in a bear market. Guidance Only logged in subscribers of this site will be able to access the shared article. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Description. | Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Excuse me. The company assumes no obligation to update any such forward-looking statements. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. We attributed the bulk of the quarters NAV decline to widening credit spreads. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Thank you. 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. Use the PitchBook Platform to explore the full profile. 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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. Reduced net debt by approximately $850 Access to our investment and operational team brings unparalleled support to our portfolio companies. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Terms & Conditions secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. You must click the activation link in order to complete your subscription. Get our editors daily picks straight in your inbox! Which companies in this hub have the most subsidiaries? Based in New York, Mr. Harari is responsible for developing and executing Crescents strategic sales and marketing plan for clients and assets, including identifying potential new investors, developing and maintaining client relationships, designing new investment solutions and managing Crescents investor relations and client solutions team. Great. And with that, operator, please open the line for questions. The obvious, I mean, how you gave the interest coverage based on year-end rates. Im on Slide 19. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Continued strong performance ratings and low nonaccrual levels. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. Our Company - Crescent Capital Group Crescent BDC and Alcentra Capital will be holding a joint conference call to discuss the transaction on Tuesday, August 13, 2019 at 1:15 p.m. PT / 4:15 p.m. List of top Crescent Capital Portfolio Companies - CrunchBase to generate high returns in the 20% to 30% range. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. We initially share this idea in October 2018 and the stock already returned more than 150%. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. 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. 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 still like this investment. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. 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. 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. You can sign up for additional alert options at any time. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Net realized losses were less than $0.05 per share. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. In addition, a reconciliation of this measure may also be found in our earnings release. You can see that the weighted average yield of income producing securities at cost increased meaningfully quarter-over-quarter from 9.5% to 10.8% on the heels of the Federal Reserves interest rate hikes and is up 330 basis points year-over-year. 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%. That would have been 9.35% in hedge fund fees. 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. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Crescent Capital is a Belfast based venture capital fund manager Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. Thanks for the question. Crescent Capital Group Announces Hiring of Jonathan Harari as Global Crescent Capital Group is a global alternative investment firm focused on below investment grade credit markets with primary strategies that include funds that invest in leveraged loans, high-yield bonds, mezzanine debt, special situations, and distressed securities. We have just sent you an email so you can verify your account. With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. There are no further questions at this time. For more information about Crescent. LOS ANGELES, NEW YORK & BOSTON--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its second direct lending . 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Two more credit trends to highlight. We appreciate your continued interest in CCAP. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. 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. On a GAAP basis, fourth quarter net investment income per share was $0.52. Operator: Ladies and gentlemen, this does conclude our conference call for today. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. We see several investors trying to strike it rich in options market by risking their entire savings. Do you expect to be running on a combined basis going forward? More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Crescent Capital Offers A Buying Opportunity For Dividend Investors In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Crescent Capital is a leading investor across real estate, private equity and venture capital. 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. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. bdcir@crescentcap.com. Crescent wraps up eighth private credit fund at $8bn | PE Hub This video is provided by the Australian Investment Council. Video: Cameron Johnson, CEO Nucleus Network. 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. Crescent Capital BDC, Inc. - About - Portfolio Jason Breaux: Yes. Along the way, I believe Biden could become one of the most powerful Presidents in history. (310) 235-5900 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 . 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. The all time high for this statistics is 5. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. bdcir@crescentcap.com. . Use of this website is governed by the Terms and Conditions. For the year ended December 31, 2022, the Company invested $308.0 million across 20 new portfolio companies, 31 existing portfolio companies and several follow-on revolver and delayed draw fundings. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Thank you! We have seen revenue growth outpace EBITDA or cash flow growth, which we would attribute largely to inflationary pressures and higher wages, labor market tightness and the like. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. . 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. Crescent Capital Partners General Information. Net realizations of $26 million in the fourth quarter, coupled with unrealized mark-to-market losses on our investments ultimately led to our total investment portfolio, holding roughly steady at approximate fair value of $1.3 billion as of December 31, 2022, down approximately $30 million quarter-over-quarter. We are a community of like-minded real estate investors who together have a stronger purchasing power to acquire and operate multi-family properties for their potential of hands-free, tax-free passive income. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. And a big driver of that is that the if you look back at the historical left grid balance sheet, theyve historically had a bit higher leverage than us. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Crescent Capital BDC, Inc. - Investor Relations We provide support for founders and senior management teams to accelerate the achievement of their goals. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Stock Market | FinancialContent Business Page Id now like to turn it over to Henry to discuss our Q4 investment activity. Yesterday, after the market closed, the company issued its earnings press release for the fourth quarter and year ended December 31, 2022, and posted a presentation to the IR Section of its website at www.crescentbdc.com. Invest Money & Crypto With #Crescent | Crescent Bit Capital Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. The fund was more than double the size of . Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Angel - Uber), Money Raised: Amount of money raised in Funding Round, Total number of investments made by investors in this hub, Announced Date: Date when the Investment is announced, Investor Name: Name of the investor who participated in the Investment, Funding Round: Name of the funding round where the Investment is made, Number of Investors: Total number of Investors in a Funding Round, Total number of lead investment firms and individual investors that invested in organizations of this hub, Total number of investment firms and individual investors that invested in organizations of this hub, Organization/Person Name: Name of the Organization or Person, Location: Where the organization is headquartered, Investor Type: This describes the type of investor this organization or person is (e.g. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. 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. management team, and recent news are also included. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo!

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