crescent capital portfolio

All rights reserved. I would now like to turn the conference over to Dan McMahon. You must click the activation link in order to complete your subscription. There are no further questions at this time. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 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. Something went wrong while submitting the form. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. That means much bigger government. it's been delivered there. 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. Can you give us any color around that? We provide support for founders and senior management teams to accelerate the achievement of their goals. . 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. Crescent Capital Partners General Information. I mean how would the how are the operating trends doing? Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 2009 Crescent Capital, All Rights Reserved. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. 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. And with that, operator, please open the line for questions. Investing in the future of finance, education, SaaS, logistics, and more. Crescent Capital is a Belfast based venture capital fund manager. Win whats next. 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. I mean, whats the how are things actually trending right now? Crescents investment activities are managed by dedicated teams focused on each of these asset classes. What's the most common final funding type when companies get acquired? Our team have over 30 years experience assisting healthcare businesses accelerate growth. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 2023 PitchBook. Continued strong performance ratings and low nonaccrual levels. 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. 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. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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 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. ", "Our growth strategy was perfectly aligned with Crescents. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. The all time high for this statistics is 5. Jason reviewed several metrics related to our portfolio. 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. 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. This means the bullish number of . 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. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard How are IPOs trending over time in this hub? 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. Read More Portfolio See our recent purchases and offers. 2023 Crescent Capital Group LP. Crescent Capital is a Belfast based venture capital fund manager. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. Guidance Jason Breaux: Sure. 87% in this quarter were raising one or two, so it appears pretty stable. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. That would have been 9.35% in hedge fund fees. Only logged in subscribers of this site will be able to access the shared article. The company has a one-year high of $10.68 and a one . After submitting your request, you will receive an activation email to the requested email address. 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. Now lets shift to capitalization and liquidity. 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. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . But I would say overall, we are pleased with the underlying performance of the portfolio. Video: Paul Wappett, CEO Australian Institute of Business. Do you expect to be running lower leverage than was the case to present historically? "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. 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. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. He launched his hedge fund in 1956 with $105,100 in seed capital. With that, Id now like to turn it over to Jason. Gerhard will then review our financial performance during the fourth quarter. ", "Crescent add value across business development, acquisition and enhancement activities. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. So lets begin. 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. 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 . With that, I will now turn it over to Gerhard. "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 Group LP has closed its eighth private credit fund at $8 billion. Reduced net debt by approximately $850 Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. 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 enter your email below to get our FREE report. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Discover more about our company and values. Jason Breaux: Okay. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. | Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. . All information contained in this website is qualified by the terms of applicable offering documents. If you experience any issues with this process, please contact us for further assistance. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. There are significant risks that should be considered and reviewed when considering an investment in real estate. We have consistently been able to deliver significant value-add alongside our management teams. 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. Website by GCI. We see several investors trying to strike it rich in options market by risking their entire savings. Im on Slide 19. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Get the full list, Youre viewing 5 of 21 co-investor. 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 is a leading investor across real estate, private equity and venture capital. Excuse me. 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. Please check your spam or junk folder just in case As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Great. We initially share this idea in October 2018 and the stock already returned more than 150%. 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 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. 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. Register now to read this article and more for free. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. Net realized losses were less than $0.05 per share. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? 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. 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. This situates us well to benefit from increases in base rates above our average floors as is the case this quarter with continued growth in our interest income line item. 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 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 . You can sign up for additional alert options at any time. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. And on March 7, First Eagle is conducting a special meeting of its stockholders whereby they will be asked to adopt the agreement and plan a merger. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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 . At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. 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. (310) 235-5900 An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Get the full list, Youre viewing 10 of 31 exits. Crescent Credit. Sorry, no results has been found matching your query. Get our editors daily picks straight in your inbox! 2023 Crescent Capital Investments 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. bdcir@crescentcap.com. To participate please dial (877 . Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. You must click the activation link in order to complete your subscription. 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. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Turning back to this quarters earnings. | You talked about, obviously, youve lowered leverage ahead of that acquisition. 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. Read More Our Strategy Learn more about our investing strategy. Or is that just a timing? Thank you! Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. 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. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. For more information about Crescent. 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. 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. I.e., is your forward leverage range target changing as a result of proposed acquisition? Legal Notice. Average Retirement Savings By Age: Are You Normal? As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. It has a well-diversified portfolio and is unique in that it also has international exposure. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Access to our investment and operational team brings unparalleled support to our portfolio companies. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. | For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Jason Breaux: Thanks, Gerhard. If you experience any issues with this process, please contact us for further assistance. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. The good news is, this powerful new force can help you make a lot of money even in a bear market. We are an equity partner that brings more than money to the relationship. Shares added by 1.69% iShares Russell 1000. Please go ahead. The first question comes from Robert Dodd of Raymond James. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. 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 believe this is an important distinction to highlight for shareholders in a volatile market environment. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. Gross deployment in the fourth quarter was $46 million. Focus on Seed and Series A. Video: Matt Courtney, CEO Construction Sciences. 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. We have a large internal team which helps accelerate a portfolio company management teams decision making. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Thank you, operator. Henry? That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Read More Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. 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.

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crescent capital portfolio

crescent capital portfolio