", "Crescent add value across business development, acquisition and enhancement activities. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. 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 good news is, this powerful new force can help you make a lot of money even in a bear market. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. The total size of the investment portfolio is around USD 400 million which . Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Use of this website is governed by the Terms and Conditions. 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. Gross deployment in the fourth quarter was $46 million. 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. We provide support for founders and senior management teams to accelerate the achievement of their goals. Click Healthcare is Crescent's largest sector by investment. Average Retirement Savings By Age: Are You Normal? I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Jason Breaux: Okay. 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. What's the investment trend over time for this hub? Website by GCI. Please go ahead. . Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Jason Breaux: Sure. (310) 235-5900 2023 PitchBook. This increase was driven primarily by rising base rates and higher spreads. We are an equity partner that brings more than money to the relationship. 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. As of year-end, consistent with the prior quarter, we had investments in four portfolio companies on nonaccrual status, representing 2.0% and 1.2% of our total debt investments at cost and fair value, respectively. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. We believe an active engagement model is a leading indicator of strong company performance. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. And we remain well diversified across 18 industries and continue to lend almost exclusively to private equity-backed companies with 98% of our debt portfolio in sponsor-backed companies as of year-end. Jason Breaux: Thanks, Gerhard. Get our editors daily picks straight in your inbox! ", "Our growth strategy was perfectly aligned with Crescents. Register now to read this article and more for free. So lets begin. 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. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. 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. 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. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. So, how did Warren Buffett manage to generate high returns and beat the market? Henry? It has a well-diversified portfolio and is unique in that it also has international exposure. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. 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. 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. 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. Shares added by 1.69% iShares Russell 1000. Not the case? With that, Id now like to turn it over to Jason. I would now like to turn the conference over to Dan McMahon. 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. 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 Read More Our Strategy Learn more about our investing strategy. We believe this is an important distinction to highlight for shareholders in a volatile market environment. You must click the activation link in order to complete your subscription. Diversification will not guarantee profitability or protection against loss. 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. Investors in our funds include both domestic and international pension funds and endowments. This means the bullish number of . For more information about Crescent. Product Marketing and Business Development Director. Your submission has been received! I will turn the call back to Jason Breaux for closing remarks. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. We still like this investment. 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 continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. The all time high for this statistics is 5. 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). Robert Dodd: Got it. Use of this website is governed by the Terms and Conditions. Offerings across the credit quality spectrum ", "It has been Crescents human capital that has been most valuable to us. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 Capital Partners is a leading Australian private equity firm. ", "Crescent brings a laser light focus on the things that drive value to our business.". In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Series A, Seed, Private Equity), Average of the Crunchbase Ranks of the organizations in this hub, Organization Name: Name of the Organization, Total Funding Amount: Total amount raised across all funding rounds, CB Rank (Organization): Algorithmic rank assigned to the top 100,000 most active Organizations, Trend Score (30 Days): Movement in Rank over the last 30 days using a score from -10 to 10, Total number of funding rounds associated with this hub, Total funding amount raised across all funding rounds, Total number of acquisitions made by organizations in the hub, Announced Date: Date that the Funding Round was publicly announced, Organization Name: Name of the organization that got funded, Transaction Name: Auto-generated name of transaction (e.g. Great. 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%. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. 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. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Our team have over 30 years experience assisting healthcare businesses accelerate growth. For more information about Crescent Capital Group, please visit www.crescentcap.com. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Reduced net debt by approximately $850 For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. 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 is a leading investor across real estate, private equity and venture capital. And then one more, if I can. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Sorry, no results has been found matching your query. You can sign up for additional alert options at any time. We appreciate your continued interest in CCAP. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. That means much bigger government. Our adjusted net investment income per share of $0.49 for the fourth quarter of 2022 compares to $0.42 per share for the prior quarter and $0.43 per share for the fourth quarter of 2021. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. 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. Robert Dodd: Got it. And with that, operator, please open the line for questions. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. 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. We are proud to have globally leading NPS scores with our executive partners. (310) 235-5900 The first question comes from Robert Dodd of Raymond James. Crescent Capital is a Belfast based venture capital fund manager. Privacy Policy 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. We still like this investment. This call is being recorded on Thursday, February 23, 2023. | Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Oops! 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 . More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments 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. All rights reserved. Or is that just a timing? Im going to ask you a question that sort of relates to credit . Now lets shift to capitalization and liquidity. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. After submitting your request, you will receive an activation email to the requested email address. Back then they werent called hedge funds, they were called partnerships. We have just sent you an email so you can verify your account. He launched his hedge fund in 1956 with $105,100 in seed capital. 2009 Crescent Capital, All Rights Reserved. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. 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. Active vs. Excuse me. A couple of reminders as it relates to the transaction. 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. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. 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. For more information about Crescent. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. Terms & Conditions Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 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. All data as of 12/31/2022. Jason Breaux: Yes. Our portfolio at fair value was comprised of the following: 2023 Crescent Capital Group LP. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 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. Please turn to Slide 6, where youll see a summary of our results. to generate high returns in the 20% to 30% range. The obvious, I mean, how you gave the interest coverage based on year-end rates. Click here. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. management team, and recent news are also included. We initially share this idea in October 2018 and the stock already returned more than 150%. 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. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. The fund was more than double the size of . Discover more about our company and values. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Gerhard will then review our financial performance during the fourth quarter. Video: Matt Courtney, CEO Construction Sciences. If you experience any issues with this process, please contact us for further assistance. You must click the activation link in order to complete your subscription. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Jason reviewed several metrics related to our portfolio. We did intentionally delever a bit here in Q4 in anticipation of the merger. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. 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 have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Jason Breaux: Hey Robert, its Jason. Robert Dodd: Hi guys. Thank you, operator. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. This has proven to be a competitive advantage, particularly in the current lending environment.

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