crescent capital portfolio

You should only be asked to sign in once. Gerhard Lombard: Thanks, Henry, and good morning, everyone. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. Private Equity Portfolio. ", "Crescent add value across business development, acquisition and enhancement activities. 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. With more than 100 investment professionals and over 200 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, unitranche loans, high yield debt, mezzanine debt, and other private debt securities. Guidance "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. Our team have over 30 years experience assisting healthcare businesses accelerate growth. This video is provided by the Australian Investment Council. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? The first question comes from Robert Dodd of Raymond James. 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. And so on a pro forma combined basis, I think were going to end up sort of right in the middle of our target leverage range that we publicly stated as kind of 1.1 to 1.4. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. 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 Crescent Capital is a Belfast based venture capital fund manager. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. 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. 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. We initially share this idea in October 2018 and the stock already returned more than 150%. Thank you again, everyone for your interest and support of CCAP. Please turn to Slide 15 where we highlight our recent activity. 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. Crescent raised its first fund in 1992 and has consistently been a leader in the private debt market, focusing on senior secured unitranche securities and junior debt. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? As of year-end, consistent with the prior quarter, we had investments in four portfolio companies on nonaccrual status, representing 2.0% and 1.2% of our total debt investments at cost and fair value, respectively. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Video: Matt Courtney, CEO Construction Sciences. . He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. The good news is, this powerful new force can help you make a lot of money even in a bear market. 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. Healthcare is Crescent's largest sector by investment. The company has a one-year high of $10.68 and a one . How much aggregate funding have these organizations raised over time? An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. I.e., is your forward leverage range target changing as a result of proposed acquisition? 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. 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. During this conference call, we may discuss certain non-GAAP measures as defined by SEC Regulation G, such as adjusted net investment income or NII per share. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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. 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. 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. And two, the exchange ratio for the stock component of the merger consideration and the amount of cash from Crescent BDC will be determined by the respective net asset values of Crescent BDC and First Eagle BDC and customary merger adjustments two days prior to closing. We initially share this idea in October 2018 and the stock already returned more than 150%. Use of this website is governed by the Terms and Conditions. Warren Buffett has been investing and compounding for at least 65 years. 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). Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 2009 Crescent Capital, All Rights Reserved. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. Not the case? Description. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. Video: Paul Wappett, CEO Australian Institute of Business. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. We have just sent you an email so you can verify your account. 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 . This means the bullish number of . So lets begin. | 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. Please check your spam or junk folder just in case 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. 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. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. I believe it will make millions of Americans vastly wealthier. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. 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. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments Jason reviewed several metrics related to our portfolio. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. That means much bigger government. 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. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Crescent Capital is a Belfast based venture capital fund manager. 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. I mean how would the how are the operating trends doing? We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Net realizations of $26 million in the fourth quarter, coupled with unrealized mark-to-market losses on our investments ultimately led to our total investment portfolio, holding roughly steady at approximate fair value of $1.3 billion as of December 31, 2022, down approximately $30 million quarter-over-quarter. Please turn to Slide 6, where youll see a summary of our results. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Investors in our funds include both domestic and international pension funds and endowments. He launched his hedge fund in 1956 with $105,100 in seed capital. This dynamic is evidenced by our internal portfolio ratings at the end of the fourth quarter, largely consistent with prior quarters with 87% of the portfolio rated 1 or 2, our highest rating categories. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. You talked about, obviously, youve lowered leverage ahead of that acquisition. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. This increase was driven primarily by rising base rates and higher spreads. 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. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. And it means its going to be harder than ever to hold onto any money you make. I will turn the call back to Jason Breaux for closing remarks. Excuse me. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Crescent Credit. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. There are no further questions at this time. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. 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 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. Don't have an account? 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. Do you expect to be running lower leverage than was the case to present historically? A couple more worth highlighting. Click Reduced net debt by approximately $850 We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 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 Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. 2023 Crescent Capital Group LP. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . For more information about Crescent. Gross deployment in the fourth quarter was $46 million. Get the full list, Youre viewing 4 of 6 team members. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Along the way, I believe Biden could become one of the most powerful Presidents in history. You can get rich by returning 20% per year and compounding that for several years. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. 25+ years experience in strategy consulting, investment and business management and public company boards. 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. Your submission has been received! The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Focus on Seed and Series A. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. 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. Or is that just a timing? Get our editors daily picks straight in your inbox! This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. We generally believe that our private equity partners provide operational and financial support to strengthen their portfolio companies for long-term value creation, which is particularly valuable during periods of heightened volatility, like the one we are investing in today. Click here. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Thanks for the question. How are IPOs trending over time in this hub? Henry? InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. 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. Can you give us any color around that? 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. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Access to our investment and operational team brings unparalleled support to our portfolio companies. What's the most common final funding type when companies get acquired? Or was it a more normal course of business add-ons or growth or whatever? 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Thank you. Robert Dodd: Got it. bdcir@crescentcap.com. Jason Breaux: Yes. Video: Melinda McGrath, CEO Australian Clinical Labs. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. With that, Id now like to turn it over to Jason. ", "Crescent brings a laser light focus on the things that drive value to our business.". We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Get the full list, Youre viewing 5 of 21 co-investor. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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 . Now lets shift to capitalization and liquidity. 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. We did intentionally delever a bit here in Q4 in anticipation of the merger. 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. Continued strong performance ratings and low nonaccrual levels. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. That would have been 9.35% in hedge fund fees. 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. Get the full list, Youre viewing 10 of 31 exits. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. 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. Turning back to this quarters earnings. Our portfolio at fair value was comprised of the following: Net realized losses were less than $0.05 per share. Crescent Capital is a leading investor across . This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. And with that, Id like to turn it back to Jason for closing remarks. Video: Cameron Johnson, CEO Nucleus Network. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. it's been delivered there. And then one more, if I can. Passive Investing: Which Real Estate Strategy is Right for You. 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. Average Retirement Savings By Age: Are You Normal? S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Robert Dodd: Hi guys. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Discover more about our company and values. 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. There are significant risks that should be considered and reviewed when considering an investment in real estate. I would now like to turn the conference over to Dan McMahon. 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. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Crescent Capital Partners is a leading Australian private equity firm. . management team, and recent news are also included. ", "I strongly recommend working in partnership with Crescent Capital. Jason Breaux: Sure. 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. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . ", "Crescent partnered with us and assisted in achieving our growth targets. 2023 Crescent Capital Group LP. We are a community of like-minded real estate investors who together have a stronger purchasing power to acquire and operate multi-family properties for their potential of hands-free, tax-free passive income. Oops! The decline relates primarily to unrealized losses we took to reflect wider credit spreads in the market as volatility within the leveraged finance and equity markets continued during the fourth quarter. 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.

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