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crescent capital portfolio
All data as of 12/31/2022. Please check your spam or junk folder just in case In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Sun Life-backed Crescent targets $6bn for two private debt funds Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. On a GAAP basis, fourth quarter net investment income per share was $0.52. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. 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. For example S&P 500 Index returned 43.4% in 1958. 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 wraps up eighth private credit fund at $8bn | PE Hub ET. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. Crescent Capital If you experience any issues with this process, please contact us for further assistance. Our team have over 30 years experience assisting healthcare businesses accelerate growth. We are an equity partner that brings more than money to the relationship. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. After submitting your request, you will receive an activation email to the requested email address. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Investing in the future of finance, education, SaaS, logistics, and more. 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. Reduced net debt by approximately $850 Henry? 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. I believe it will make millions of Americans vastly wealthier. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. This increase was driven primarily by rising base rates and higher spreads. After that, there are no remaining term maturities until 2026. Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. 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. . Crescent Capital is a Belfast based venture capital fund manager. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. For more information about Crescent. Active vs. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. 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. 2009 Crescent Capital, All Rights Reserved. The first question comes from Robert Dodd of Raymond James. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Click You must click the activation link in order to complete your subscription. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Turning back to this quarters earnings. 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. Please turn to Slide 15 where we highlight our recent activity. Please go ahead. Home - Crescent Capital Investments 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. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Shares added by 1.69% iShares Russell 1000. 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. . Crescent Capital is a leading investor across . Gross deployment in the fourth quarter was $46 million. Sorry, no results has been found matching your query. Not the case? Our Company - Crescent Capital Group We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescent Point Energy (CPG) Receives a Buy from BMO Capital You can sign up for additional alert options at any time. Crescent Capital Group Announces Hiring of Jonathan Harari as Global Crescent Capital Offers A Buying Opportunity For Dividend Investors ", "Crescent brings a laser light focus on the things that drive value to our business.". 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). Get the full list, Youre viewing 4 of 6 team members. Diversification will not guarantee profitability or protection against loss. We still like this investment. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Robert Dodd: Got it. 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. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Before we begin, Ill start with some important reminders. Im going to ask you a question that sort of relates to credit . Terms & Conditions That would have been 9.35% in hedge fund fees. The total size of the investment portfolio is around USD 400 million which . 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. 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. Use of this website is governed by the Terms and Conditions. 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. While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. 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. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. 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 . Average Retirement Savings By Age: Are You Normal? 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. to generate high returns in the 20% to 30% range. Crescent Capital - Investing in the future There are significant risks that should be considered and reviewed when considering an investment in real estate. Operator: Ladies and gentlemen, this does conclude our conference call for today. Our investment portfolio continues to consist primarily of senior secured first lien and unitranche first lien loans, collectively representing 90% of the portfolio at fair value, up from 89% in the prior quarter. 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. | S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Get the full list, Youre viewing 5 of 21 co-investor. 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. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. 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. This video is provided by the Australian Investment Council. Read More Our Strategy Learn more about our investing strategy. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Robert Dodd: Hi guys. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. We look forward to speaking with you again soon. This means the bullish number of . Crescent Capital Group - Wikipedia Our success and reputation have been built on conservatism, ethics, passion, attention to detail, responsibility, and our belief that trust starts and ends with honesty and integrity. 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. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. 2023 Crescent Capital Group LP. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Venture Capital Portfolio Home - Crescent Capital The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. We have just sent you an email so you can verify your account. Thank you. 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. Net realized losses were less than $0.05 per share. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Im on Slide 19. 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. All rights reserved. Private Equity Portfolio. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. 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. 25+ years experience in strategy consulting, investment and business management and public company boards. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. In addition, a reconciliation of this measure may also be found in our earnings release. Thank you! Don't have an account? Crescent has won the M&A Acquisition Finance Deal of the Year 2016 Award in Turkey, which represents the longest tenor fully non-recourse senior debt financing in Turkish renewables together with the first sharia-compliant mezzanine facility in the sector. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. And a big driver of that is that the if you look back at the historical left grid balance sheet, theyve historically had a bit higher leverage than us. We have consistently been able to deliver significant value-add alongside our management teams. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Gerhard Lombard: Thanks, Henry, and good morning, everyone. Your submission has been received! Operator: Thank you. Good morning, everyone, and thank you for joining our earnings call. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch A couple of reminders as it relates to the transaction. "Jonathan brings a wealth of investor relations experience to Crescent, and we are excited for his leadership as we seek to grow our client relationships and respond to the increasing demand for our alternative credit offerings," said Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. 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. 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. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. A couple more worth highlighting. We attributed the bulk of the quarters NAV decline to widening credit spreads. Crescent Capital - Crunchbase Investor Profile & Investments All information contained in this website is qualified by the terms of applicable offering documents. And with that, Id like to turn it back to Jason for closing remarks. . Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. Gerhard will then review our financial performance during the fourth quarter. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Operator: Thank you. 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%. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. You can sign up for additional alert options at any time. 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. Get the full list, Morningstar Institutional Equity Research. That means much bigger government. 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. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Video: Melinda McGrath, CEO Australian Clinical Labs.
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