crescent capital portfolio crescent capital portfolio

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. And with that, Id like to turn it back to Jason for closing remarks. Crescent Capital Partners is a leading Australian private equity firm. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. You talked about, obviously, youve lowered leverage ahead of that acquisition. 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. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? Net realized losses were less than $0.05 per share. (310) 235-5900 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. A link has been emailed to you - check your inbox. Another, on your deployments in the quarter, obviously will follow on. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. 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 is unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. We still like this investment. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. To participate please dial (877 . Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. This video is provided by the Australian Investment Council. We appreciate your continued interest in CCAP. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Robert Dodd: Hi guys. The company has a one-year high of $10.68 and a one . 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. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Product Marketing and Business Development Director. Not the case? A couple more worth highlighting. 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. For more information about Crescent. 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 includes hydro, wind, solar assets under operation. The $46 million in gross deployment compares to approximately $71 million in aggregate exits, sales and repayments in the quarter, inclusively a final $8 million liquidating return of capital from our joint venture, which, as Jason noted, is now fully dissolved. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Thank you! Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. 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 . Good morning, everyone, and thank you for joining our earnings call. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Only logged in subscribers of this site will be able to access the shared article. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. 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. 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 focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. With that, Id now like to turn it over to Jason. How much aggregate funding have these organizations raised over time? This increase was driven primarily by rising base rates and higher spreads. it's been delivered there. Jason Breaux: Thank you, Dan. Active vs. Please go ahead. 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. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Gerhard Lombard: Thanks, Henry, and good morning, everyone. Click The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Or was it a more normal course of business add-ons or growth or whatever? The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Turning back to this quarters earnings. 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. Do you expect to be running on a combined basis going forward? Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. We still like this investment. 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. Warren Buffett took 25% of all returns in excess of 6 percent. Operator: Thank you. 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. Thank you again, everyone for your interest and support of CCAP. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Discover more about our company and values. After submitting your request, you will receive an activation email to the requested email address. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard 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. 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. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. 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. I mean, whats the how are things actually trending right now? 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. You can sign up for additional alert options at any time. We are proud to have globally leading NPS scores with our executive partners. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. For example S&P 500 Index returned 43.4% in 1958. Please also note that past performance or market information is not a guarantee of future results. But I would say overall, we are pleased with the underlying performance of the portfolio. Which companies in this hub have the most subsidiaries? We thank you for your participation and ask that you please disconnect your lines. 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. 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. 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. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. ", "Crescent partnered with us and assisted in achieving our growth targets. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Crescent Capital is a leading investor across real estate, private equity and venture capital. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Our portfolio at fair value was comprised of the following: The companies continue to grow on the top line and the bottom line. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Your submission has been received! 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. It has a well-diversified portfolio and is unique in that it also has international exposure. | Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. 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. 25+ years experience in strategy consulting, investment and business management and public company boards. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Wed be happy to take your questions, and please understand that we may be limited in some answers due to the ongoing First Eagle transaction. Please turn to Slide 6, where youll see a summary of our results. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Networking We provide expertise and exposure to a network of relevant business contacts. 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. Click here. Read More Our Strategy Learn more about our investing strategy. We attributed the bulk of the quarters NAV decline to widening credit spreads. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. I.e., is your forward leverage range target changing as a result of proposed acquisition? 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. Jason Breaux: Hey Robert, its Jason. We see several investors trying to strike it rich in options market by risking their entire savings. Im on Slide 19. Use of this website is governed by the Terms and Conditions. Read More That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. All information contained in this website is qualified by the terms of applicable offering documents. 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. What's the investment trend over time for this hub? By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. Warren Buffett has been investing and compounding for at least 65 years. We have a large internal team which helps accelerate a portfolio company management teams decision making. Sorry, no results has been found matching your query. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. . 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. As a member of the Australian Investment Council, we are bound by a set of member standards including the Australian Investment Council Code of Conduct, as well as responsible investment and valuation guidelines. "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. The good news is, this powerful new force can help you make a lot of money even in a bear market. 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. After submitting your request, you will receive an activation email to the requested email address. This has proven to be a competitive advantage, particularly in the current lending environment. Get the full list, Youre viewing 4 of 6 team members. 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. We have consistently been able to deliver significant value-add alongside our management teams. 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. I will turn the call back to Jason Breaux for closing remarks. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. . Venture Capital Portfolio 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. Crescent Capital Partners General Information. ", "Crescent add value across business development, acquisition and enhancement activities. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Get the full list, Youre viewing 10 of 31 exits. Wed like to thank all of you for your continued support and time today. Henry Chung: Thanks, Jason. 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. So, how did Warren Buffett manage to generate high returns and beat the market? Robert Dodd: Got it. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. There are no further questions at this time. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Oops! Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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 . All data as of 12/31/2022. UAE-Based Edtech Startup Ostaz Is On A Mission To Become A One-Stop-Shop For Education, AirAsias Tony Fernandes Refocuses Back on a Superapp Just for Travel, Malaysia Healthcare Partners with AirAsia, Air India Express, AirAsia begin merger drill, MiL.k launched its first global point exchange service with airasia, Datactics Jamie Gordon on Big Financial Institutions and their Messy Datasets. You must click the activation link in order to complete your subscription. Can you give us any color around that? 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 take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. 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. A couple of reminders as it relates to the transaction. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. Healthcare is Crescent's largest sector by investment. 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Use of this website is governed by the Terms and Conditions. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. You should only be asked to sign in once. 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. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. How are IPOs trending over time in this hub? 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. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. 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. Win whats next. 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. If you experience any issues with this process, please contact us for further assistance. Get our editors daily picks straight in your inbox! 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. 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.