crescent capital portfolio

We did intentionally delever a bit here in Q4 in anticipation of the merger. I believe it will make millions of Americans vastly wealthier. So lets begin. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. 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 companys actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Continued strong performance ratings and low nonaccrual levels. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Venture Capital Portfolio. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. The first question comes from Robert Dodd of Raymond James. We see several investors trying to strike it rich in options market by risking their entire savings. 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. 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. Or was it a more normal course of business add-ons or growth or whatever? Turning back to this quarters earnings. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. Please go ahead. We have a large internal team which helps accelerate a portfolio company management teams decision making. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. 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. Description. But I would say overall, we are pleased with the underlying performance of the portfolio. ", "Our growth strategy was perfectly aligned with Crescents. Not the case? 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. 25+ years experience in strategy consulting, investment and business management and public company boards. 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. 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. Video: Cameron Johnson, CEO Nucleus Network. A couple more worth highlighting. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Don't have an account? Im on Slide 19. Passive Investing: Which Real Estate Strategy is Right for You. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. ", "Crescent brings a laser light focus on the things that drive value to our business.". Another, on your deployments in the quarter, obviously will follow on. 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. All rights reserved. WhatsApp acquired by Facebook), Total number of people associated with this hub, Full Name: First and last name of a Person, Primary Organization: The organization associated to the person's primary job, Primary Job Title: The person's primary job title, CB Rank (Person): Algorithmic rank assigned to the top 100,000 most active People, Total amount raised at IPO of all the organizations associated with this hub, Median amount raised at IPO of all the organizations associated with this hub, Total valuation at IPO of all the organizations associated with this hub, Median valuation at IPO of all the organizations associated with this hub, Average date at which organizations in this hub went public, Percentage of organizations in this hub that have removed their stock from the stock exchange. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. 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. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Reduced net debt by approximately $850 A couple of reminders as it relates to the transaction. Investing in the future of finance, education, SaaS, logistics, and more. (310) 235-5900 Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. Click here. Please also note that past performance or market information is not a guarantee of future results. Focus on Seed and Series A. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. 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. 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 . 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. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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. 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. Crescent Capital is a Belfast based venture capital fund manager. 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. 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. Henry? We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. Video: Paul Wappett, CEO Australian Institute of Business. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. This increase was driven primarily by rising base rates and higher spreads. 2009 Crescent Capital, All Rights Reserved. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. Gerhard will then review our financial performance during the fourth quarter. Win whats next. Wed like to thank all of you for your continued support and time today. 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. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. If you experience any issues with this process, please contact us for further assistance. Use the PitchBook Platform to explore the full profile. ", "Crescent add value across business development, acquisition and enhancement activities. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. 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 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. Thank you. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. We initially share this idea in October 2018 and the stock already returned more than 150%. 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 weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Now lets shift to capitalization and liquidity. to generate high returns in the 20% to 30% range. bdcir@crescentcap.com. . Thank you, operator. 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 The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. Jason Breaux: Thank you, Dan. We thank you for your participation and ask that you please disconnect your lines. Do you expect to be running lower leverage than was the case to present historically? | We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. ", "Crescent partnered with us and assisted in achieving our growth targets. And with that, operator, please open the line for questions. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Crescent Capital is a leading investor across real estate, private equity and venture capital. Product Marketing and Business Development Director. The fund was more than double the size of . Crescent Capital is a Belfast based venture capital fund manager. 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 . He launched his hedge fund in 1956 with $105,100 in seed capital. Great. 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. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. . You can get rich by returning 20% per year and compounding that for several years. Jason Breaux: Thanks, Gerhard. Crescent Capital is a Belfast based venture capital fund manager. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. 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 . Warren Buffett has been investing and compounding for at least 65 years. 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. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Private Equity Portfolio. (310) 235-5900 Along the way, I believe Biden could become one of the most powerful Presidents in history. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. It has a well-diversified portfolio and is unique in that it also has international exposure. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. 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. 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. 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. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . The companies continue to grow on the top line and the bottom line. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Operator: Thank you. Offerings across the credit quality spectrum Discover more about our company and values. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Please turn to Slide 6, where youll see a summary of our results. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. If you experience any issues with this process, please contact us for further assistance. 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%. You can sign up for additional alert options at any time. 2023 PitchBook. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Please turn to Slide 15 where we highlight our recent activity. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard Sorry, no results has been found matching your query. 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. ", "Crescents practical and analytical approach enabled management to hit their goals. In a free sample issue of our monthly newsletter we analyzed Warren Buffetts stock picks covering the 1999-2017 period and identified the best performing stocks in Warren Buffetts portfolio. To participate please dial (877 . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. it's been delivered there. Which companies in this hub have the most subsidiaries? Our portfolio at fair value was comprised of the following: Back then they werent called hedge funds, they were called partnerships. 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. That means much bigger government. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. 87% in this quarter were raising one or two, so it appears pretty stable. The all time high for this statistics is 5. 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 look forward to speaking with you again soon. We are an equity partner that brings more than money to the relationship. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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 wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Read More Video: Matt Courtney, CEO Construction Sciences. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. 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. 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. 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 team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Operator: Ladies and gentlemen, this does conclude our conference call for today. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Website by GCI. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. 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 . The total size of the investment portfolio is around USD 400 million which . Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. I will turn the call back to Jason Breaux for closing remarks. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Jason reviewed several metrics related to our portfolio. Crescent Capital Partners General Information. And then one more, if I can. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Our team have over 30 years experience assisting healthcare businesses accelerate growth. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. This video is provided by the Australian Investment Council. 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. Thank you again, everyone for your interest and support of CCAP. | Gerhard Lombard: Thanks, Henry, and good morning, everyone. All information contained in this website is qualified by the terms of applicable offering documents. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. 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. Investors in our funds include both domestic and international pension funds and endowments. Jason Breaux: Sure. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Before we begin, Ill start with some important reminders. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. 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. 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.

Netcredit Unable To Verify Income, When Did Emeril Lagasse Have A Stroke, 13 Week Cna Travel Contract With Housing In California, Wisconsin High School Player Rankings, Articles C