crescent capital portfolio crescent capital portfolio

This serves to drive growth and performance improvement, accelerating value creation for shareholders. Use the PitchBook Platform to explore the full profile. Along the way, I believe Biden could become one of the most powerful Presidents in history. 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. Robert Dodd: Got it. Gross deployment in the fourth quarter was $46 million. 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. 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. 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. If you experience any issues with this process, please contact us for further assistance. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. To participate please dial (877 . 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 . Or is that just a timing? I mean how would the how are the operating trends doing? 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. Jason Breaux: Okay. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. | A link has been emailed to you - check your inbox. de C.V. (NYSE:VIST) Q4 2022 Earnings Call Transcript, TriMas Corporation (NASDAQ:TRS) Q4 2022 Earnings Call Transcript, Tennant Company (NYSE:TNC) Q4 2022 Earnings Call Transcript. During this conference call, we may discuss certain non-GAAP measures as defined by SEC Regulation G, such as adjusted net investment income or NII per share. After that, there are no remaining term maturities until 2026. Please check your spam or junk folder just in case Im on Slide 19. 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. 2009 Crescent Capital, All Rights Reserved. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Get our editors daily picks straight in your inbox! This increase was driven primarily by rising base rates and higher spreads. An investor who invested $10,000 in Warren Buffetts hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made more than $36,000 in fees from this investor). 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. Legal Notice. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Id now like to turn it over to Henry to discuss our Q4 investment activity. We are proud to have globally leading NPS scores with our executive partners. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Because were invested in a largely first lien and unitranche focused portfolio, having largely rotated out of legacy Alcentra names and our broadly-syndicated bank loan joint venture, we expect to generate a high quality of top line revenue, primarily consisting of recurring scheduled interest income. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. We still like this investment. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Please go ahead. The company has a one-year high of $10.68 and a one . Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. We did intentionally delever a bit here in Q4 in anticipation of the merger. 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. I will turn the call back to Jason Breaux for closing remarks. Investing in the future of finance, education, SaaS, logistics, and more. 87% in this quarter were raising one or two, so it appears pretty stable. 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 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. There are no further questions at this time. 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. Thank you. 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. 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. Video: Matt Courtney, CEO Construction Sciences. And with that, Id like to turn it back to Jason for closing remarks. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Diversification will not guarantee profitability or protection against loss. With that, Id now like to turn it over to Jason. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. And it means its going to be harder than ever to hold onto any money you make. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Thank you again, everyone for your interest and support of CCAP. Jason Breaux: Thank you, Dan. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Read More Portfolio See our recent purchases and offers. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. I would now like to turn the conference over to Dan McMahon. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Passive Investing: Which Real Estate Strategy is Right for You. 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. Please also note that past performance or market information is not a guarantee of future results. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. If you experience any issues with this process, please contact us for further assistance. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. bdcir@crescentcap.com. 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. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. 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. 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. Investors in our funds include both domestic and international pension funds and endowments. Our GAAP earnings per share or net increase in net assets resulting from operations for the fourth quarter of 2022 was $0.08, which compares to negative $0.08 per share for the prior quarter. Continued strong performance ratings and low nonaccrual levels. He most recently served as Executive Vice President at PIMCO based in New York City, where he led business development across large corporate pensions, family offices, endowments, foundations and healthcare institutions. Your submission has been received! From cross portfolio introductions and business development, provision of consulting style support on key projects, through to assisting portfolio companies through major strategic change, the Crescent investment team has a unique blend of high end consulting and operational skill sets to support the investee companies. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. 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. Can you give us any color around that? You can sign up for additional alert options at any time. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. ", "Crescents practical and analytical approach enabled management to hit their goals. ", "It has been Crescents human capital that has been most valuable to us. We appreciate your continued interest in CCAP. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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 BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. We have consistently been able to deliver significant value-add alongside our management teams. Henry? In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. We will not be outlining additional details of the transaction on this call today, and we direct any interest investors to the proxy statement that was filed in January. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. 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. 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. The company assumes no obligation to update any such forward-looking statements. 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. The obvious, I mean, how you gave the interest coverage based on year-end rates. Robert Dodd: Hi guys. For more information about Crescent. ", "Crescent partnered with us and assisted in achieving our growth targets. ", "I strongly recommend working in partnership with Crescent Capital. Venture Capital Portfolio We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. | What's the most common final funding type when companies get acquired? You should only be asked to sign in once. bdcir@crescentcap.com. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Jason Breaux: Sure. 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. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Operator: Ladies and gentlemen, this does conclude our conference call for today. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. 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. We thank you for your participation and ask that you please disconnect your lines. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. ", "Crescent add value across business development, acquisition and enhancement activities. 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%. 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. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. 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.