At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. 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. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. Click here. 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? We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 2023 PitchBook. In addition, a reconciliation of this measure may also be found in our earnings release. 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. 2009 Crescent Capital, All Rights Reserved. Get the full list, Morningstar Institutional Equity Research. 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 . 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. Sorry, no results has been found matching your query. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Excuse me. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. Thank you! Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Gross deployment in the fourth quarter was $46 million. Terms & Conditions 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. 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. All information contained in this website is qualified by the terms of applicable offering documents. As of year-end, this GAAP expense accrual has been fully reversed. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Operator: Thank you. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . 2023 Crescent Capital Group LP. ", "Our growth strategy was perfectly aligned with Crescents. Or was it a more normal course of business add-ons or growth or whatever? Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. 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 . We believe this is an important distinction to highlight for shareholders in a volatile market environment. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Warren Buffett took 25% of all returns in excess of 6 percent. 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 . 2023 Crescent Capital Investments 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. Our portfolio at fair value was comprised of the following: Only logged in subscribers of this site will be able to access the shared article. Do you expect to be running lower leverage than was the case to present historically? Focus on Seed and Series A. 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. Another, on your deployments in the quarter, obviously will follow on. | AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Networking We provide expertise and exposure to a network of relevant business contacts. Get the full list, Youre viewing 10 of 31 exits. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 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. 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. We appreciate your continued interest in CCAP. Access to our investment and operational team brings unparalleled support to our portfolio companies. Click But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. Or is that just a timing? 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. All rights reserved. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. Henry? 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. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. Continued strong performance ratings and low nonaccrual levels. Jason Breaux: Thank you, Dan. Passive Investing: Which Real Estate Strategy is Right for You. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. With that, Id now like to turn it over to Jason. 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. Operator: Ladies and gentlemen, this does conclude our conference call for today. 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. 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. 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. Robert Dodd: Got it. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Crescent Capital is a leading investor across . Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. 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. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Shares added by 1.69% iShares Russell 1000. 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. 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. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. The all time high for this statistics is 5. 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. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. Importantly, what we consider recurring yield related investment income comprised of interest income, fixed income, amortization and unused fees was up 21% quarter-over-quarter driven by rising base rates. Use of this website is governed by the Terms and Conditions. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Crescent Capital Partners is a leading Australian private equity firm. Jason Breaux: Thanks, Gerhard. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Use of this website is governed by the Terms and Conditions. I believe it will make millions of Americans vastly wealthier. 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. This has proven to be a competitive advantage, particularly in the current lending environment. This serves to drive growth and performance improvement, accelerating value creation for shareholders. The company has a one-year high of $10.68 and a one . to generate high returns in the 20% to 30% range. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. From a liquidity perspective, as of year-end, we had $225 million of undrawn capacity, subject to leverage, borrowing base and other restrictions and $17 million in cash and cash equivalents. Product Marketing and Business Development Director. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Good morning, everyone, and thank you for joining our earnings call. 2023 Crescent Capital Group LP. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 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. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Don't have an account? As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Robert Dodd: Got it. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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. Register now to read this article and more for free. There are no further questions at this time. | Video: Cameron Johnson, CEO Nucleus Network. Turning to Slide 16. 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. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. And it means its going to be harder than ever to hold onto any money you make. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. How are IPOs trending over time in this hub? bdcir@crescentcap.com. 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 . This video is provided by the Australian Investment Council. Thank you. I mean, whats the how are things actually trending right now? Im on Slide 19. 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. 87% in this quarter were raising one or two, so it appears pretty stable. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. I mean how would the how are the operating trends doing? We are an equity partner that brings more than money to the relationship. The companies continue to grow on the top line and the bottom line. The weighted average loan-to-value in the portfolio at time of underwriting was approximately 40%, which provides the same margin of safety from both an enterprise value perspective as well as capitalized risk beneath our tranche that is available to support our investments. LP investments in high-growth and distressed companies in the United States and abroad. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Warren Buffett has been investing and compounding for at least 65 years. We generally believe that our private equity partners provide operational and financial support to strengthen their portfolio companies for long-term value creation, which is particularly valuable during periods of heightened volatility, like the one we are investing in today. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Get our editors daily picks straight in your inbox! One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Read More Our Strategy Learn more about our investing strategy. You must click the activation link in order to complete your subscription. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. 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 Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. If you experience any issues with this process, please contact us for further assistance. A reconciliation of adjusted net investment income per share to net investment income per share, the most directly comparable GAAP financial measure can be found in the accompanying slide presentation for this call. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Diversification will not guarantee profitability or protection against loss. Offerings across the credit quality spectrum We are proud to have globally leading NPS scores with our executive partners. We initially share this idea in October 2018 and the stock already returned more than 150%. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. 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. 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. . secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Legal Notice. 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. Website by GCI. We initially share this idea in October 2018 and the stock already returned more than 150%. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Which companies in this hub have the most subsidiaries? Your submission has been received! Oops! 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 word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 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. You can sign up for additional alert options at any time. Thank you again, everyone for your interest and support of CCAP. Venture Capital Portfolio. Crescent Capital Partners General Information. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. ", "Crescent partnered with us and assisted in achieving our growth targets. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. We have a large internal team which helps accelerate a portfolio company management teams decision making. I would now like to turn the conference over to Dan McMahon. A link has been emailed to you - check your inbox. 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. 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. 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. Thank you, operator. 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. Use the PitchBook Platform to explore the full profile. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. You can get rich by returning 20% per year and compounding that for several years. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. So lets begin. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion.

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