The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. He most recently served as Executive Vice President at PIMCO based in New York City, where he led business development across large corporate pensions, family offices, endowments, foundations and healthcare institutions. Back then they werent called hedge funds, they were called partnerships. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Crescent Capital is a leading investor across real estate, private equity and venture capital. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. What's the most common types of sub-organization? Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. Angel, Fund of Funds, Venture Capital), Median number of investments made by investors in this hub, Median number of lead investments made by investors in this hub, Announced Date: Date the acquisition was announced, Acquirer Name: Name of the acquiring organization, Transaction Name: Auto-generated name of transaction (e.g. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. 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. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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. 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. 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. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising We are proud to have globally leading NPS scores with our executive partners. Two more credit trends to highlight. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. 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 note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. With that, Id now like to turn it over to Jason. Crescent Capital Group Announces Hiring of Jonathan Harari as Global So lets begin. You can enter your email below to get our FREE report. Only logged in subscribers of this site will be able to access the shared article. The fund was more than double the size of . . Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 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. Our Company - Crescent Capital Group At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. I would now like to turn the conference over to Dan McMahon. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation 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. 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. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. There are significant risks that should be considered and reviewed when considering an investment in real estate. You must click the activation link in order to complete your subscription. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. The obvious, I mean, how you gave the interest coverage based on year-end rates. 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. 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 is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Get the full list, Youre viewing 10 of 31 exits. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Robert Dodd: Got it. Crescent Capital Partners | Private Equity Firm in Sydney Australia Our portfolio at fair value was comprised of the following: ", "I strongly recommend working in partnership with Crescent Capital. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Jason reviewed several metrics related to our portfolio. 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. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 87% in this quarter were raising one or two, so it appears pretty stable. 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. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. This means the bullish number of . Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. And with that, Id like to turn it back to Jason for closing remarks. 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. With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. Focus on Seed and Series A. Now lets shift to capitalization and liquidity. Thank you again, everyone for your interest and support of CCAP. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Average Retirement Savings By Age: Are You Normal? Please also note that past performance or market information is not a guarantee of future results. Home - Crescent Capital With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. The company assumes no obligation to update any such forward-looking statements. 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. 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. Based in New York, Mr. Harari is responsible for developing and executing Crescents strategic sales and marketing plan for clients and assets, including identifying potential new investors, developing and maintaining client relationships, designing new investment solutions and managing Crescents investor relations and client solutions team. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. 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. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Crescent Capital Group Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. [email protected]. Terms & Conditions (310) 235-5900 As of year-end, this GAAP expense accrual has been fully reversed. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. ET. He also served as a member of the hedge fund solutions group at The Blackstone Group, L.P., where he focused on business development efforts across the Northeast and Southeast U.S. working with a diverse array of institutional clients. I mean how would the how are the operating trends doing? Henry Chung: Thanks, Jason. 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. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch 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. Crescent Capital is a Belfast based venture capital fund manager Jason Breaux: Yes. Operator: Thank you. 2023 Crescent Capital Group LP. 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. 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. You can get rich by returning 20% per year and compounding that for several years. You can sign up for additional alert options at any time. Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook A link has been emailed to you - check your inbox. Invest NI pulls plug on new VC equity fund amid claims of earlier round 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. Crescent Capital is a Belfast based venture capital fund manager. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . We have a large internal team which helps accelerate a portfolio company management teams decision making. | Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. 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. We have just sent you an email so you can verify your account. 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 If Warren Buffetts hedge fund didnt generate any outperformance (i.e. Investing in the future of finance, education, SaaS, logistics, and more. to generate high returns in the 20% to 30% range. Before we begin, Ill start with some important reminders. For example S&P 500 Index returned 43.4% in 1958. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. ", "It has been Crescents human capital that has been most valuable to us. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. You talked about, obviously, youve lowered leverage ahead of that acquisition. Jason Breaux: Thank you, Dan. Not the case? 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. Sorry, no results has been found matching your query. How are IPOs trending over time in this hub? Register now to read this article and more for free. 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. 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. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. I will turn the call back to Jason Breaux for closing remarks. Guidance Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. This serves to drive growth and performance improvement, accelerating value creation for shareholders. The all time high for this statistics is 5. 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. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. 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. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Which investors participated in the most funding rounds within this hub? 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. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Crescent Capital Partners General Information. We did intentionally delever a bit here in Q4 in anticipation of the merger. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Jason Breaux: Hey Robert, its Jason. Stock Market | Pittsburgh Post-Gazette So, how did Warren Buffett manage to generate high returns and beat the market? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. 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. 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. The firm invests in 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? 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 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. This website is neither an offer to sell nor a solicitation of an offer to buy securities. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Video: Paul Wappett, CEO Australian Institute of Business. Diversification will not guarantee profitability or protection against loss. 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. 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. 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. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Something went wrong while submitting the form. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! (310) 235-5900 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. But I would say overall, we are pleased with the underlying performance of the portfolio. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Can you give us any color around that?
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