crescent capital portfolio

We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. The companies continue to grow on the top line and the bottom line. And then one more, if I can. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Do you expect to be running on a combined basis going forward? Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Henry Chung: Thanks, Jason. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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. 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. You can sign up for additional alert options at any time. 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. We thank you for your participation and ask that you please disconnect your lines. Access to our investment and operational team brings unparalleled support to our portfolio companies. The good news is, this powerful new force can help you make a lot of money even in a bear market. Use of this website is governed by the Terms and Conditions. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Discover more about our company and values. Thank you, operator. In addition, a reconciliation of this measure may also be found in our earnings release. Crescent Credit. 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. 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. We are proud to have globally leading NPS scores with our executive partners. Jason Breaux: Hey Robert, its Jason. 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. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. 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. Operator: Ladies and gentlemen, this does conclude our conference call for today. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Or is that just a timing? The company assumes no obligation to update any such forward-looking statements. As a reminder, this call is being recorded for replay purposes. The fund was more than double the size of . We see several investors trying to strike it rich in options market by risking their entire savings. Can you give us any color around that? The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Website by GCI. Diversification will not guarantee profitability or protection against loss. Angel, Fund of Funds, Venture Capital), Median number of investments made by investors in this hub, Median number of lead investments made by investors in this hub, Announced Date: Date the acquisition was announced, Acquirer Name: Name of the acquiring organization, Transaction Name: Auto-generated name of transaction (e.g. Crescent Capital is a Belfast based venture capital fund manager. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. Investing in the future of finance, education, SaaS, logistics, and more. You must click the activation link in order to complete your subscription. Get the full list, Morningstar Institutional Equity Research. Please turn to Slide 15 where we highlight our recent activity. There are no further questions at this time. 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. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. Crescent Bit Capital is a type of secure investment that grows your money at a guaranteed rate based of chosen plan of interest for a fixed period of time. 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). Terms & Conditions We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. 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. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Our team have over 30 years experience assisting healthcare businesses accelerate growth. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. We have consistently been able to deliver significant value-add alongside our management teams. 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. 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. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Turning back to this quarters earnings. Venture Capital Portfolio. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. to generate high returns in the 20% to 30% range. Crescent Capital Partners General Information. Crescent Capital is a leading investor across . . Win whats next. ", "Crescents practical and analytical approach enabled management to hit their goals. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Continued strong performance ratings and low nonaccrual levels. It has a well-diversified portfolio and is unique in that it also has international exposure. 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 . Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Jason Breaux: Yes. 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. 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 . Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. A couple of reminders as it relates to the transaction. [email protected]. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. After that, there are no remaining term maturities until 2026. Reduced net debt by approximately $850 Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. You should only be asked to sign in once. As of December 31, 99% of our debt investments at fair value were floating rate with a weighted average floor of 80 basis points, which compares to our 72% floating rate liability structure based on debt drawn with no floors. . CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. 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. 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. The all time high for this statistics is 5. I mean how would the how are the operating trends doing? ", "Crescent partnered with us and assisted in achieving our growth targets. This increase was driven primarily by rising base rates and higher spreads. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Description. 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. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. 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. 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. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. 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 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. Focus on Seed and Series A. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Please turn to Slide 6, where youll see a summary of our results. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. 2009 Crescent Capital, All Rights Reserved. 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. 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. Warren Buffett took 25% of all returns in excess of 6 percent. (310) 235-5900 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. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Turning to Slide 16. 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. Please also note that past performance or market information is not a guarantee of future results. Two more credit trends to highlight. Jason reviewed several metrics related to our portfolio. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. If you experience any issues with this process, please contact us for further assistance. So lets begin. 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. 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. Ill provide some fourth quarter and full year highlights, touch on our current portfolio and positioning and then turn it over to Henry to review our recent activity in more detail. Now lets shift to capitalization and liquidity. 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. 87% in this quarter were raising one or two, so it appears pretty stable. 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. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022.

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