Im on Slide 19. Use of this website is governed by the Terms and Conditions. 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. Our portfolio at fair value was comprised of the following: Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. Offerings across the credit quality spectrum This serves to drive growth and performance improvement, accelerating value creation for shareholders. What's the most common types of sub-organization? Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. Jason Breaux: Yes. This increase was driven primarily by rising base rates and higher spreads. 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. We still like this investment. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? Crescent Capital is a Belfast based venture capital fund manager. The good news is, this powerful new force can help you make a lot of money even in a bear market. Operator: Thank you. | | A few more updates before I turn it over to Henry. 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. Video: Matt Courtney, CEO Construction Sciences. Crescent Capital BDC, Inc. - Investor Relations Jason Breaux: Hey Robert, its Jason. 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. Crescent Capital Group Closes Second Direct Lending Fund at Focus on Seed and Series A. 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. Crescent Capital Partners | Private Equity Firm in Sydney Australia Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. 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 . Please go ahead. Crescent Capital - Investing in the future 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 PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. I mean how would the how are the operating trends doing? 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. 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. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. 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. Only logged in subscribers of this site will be able to access the shared article. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Jason Breaux: Sure. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. List of top Crescent Capital Portfolio Companies - CrunchBase 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. Jason Breaux: Okay. Gross deployment in the fourth quarter was $46 million. 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. Video: Cameron Johnson, CEO Nucleus Network. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. 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 is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch We believe this is an important distinction to highlight for shareholders in a volatile market environment. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 2023 PitchBook. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. 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. But I would say overall, we are pleased with the underlying performance of the portfolio. 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. Something went wrong while submitting the form. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. I will turn the call back to Jason Breaux for closing remarks. Crescent Capital Group - Wikipedia You can get rich by returning 20% per year and compounding that for several years. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. 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. 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. How much aggregate funding have these organizations raised over time? Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. All information contained in this website is qualified by the terms of applicable offering documents. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Crescent Capital is a Belfast based venture capital fund manager. Crescent Credit. . Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. The fund was more than double the size of . Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. 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. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Crescent Capital Group Please turn to Slide 6, where youll see a summary of our results. 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. To participate please dial (877 . We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. 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. We believe an active engagement model is a leading indicator of strong company performance. You can enter your email below to get our FREE report. 2023 Crescent Capital Group LP. The company assumes no obligation to update any such forward-looking statements. 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. 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 15 where we highlight our recent activity. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 (310) 235-5900
The company has a one-year high of $10.68 and a one . We are an equity partner that brings more than money to the relationship. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. As of year-end, this GAAP expense accrual has been fully reversed. 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. The obvious, I mean, how you gave the interest coverage based on year-end rates. Your submission has been received! 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. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Great. 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. 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. Video: Melinda McGrath, CEO Australian Clinical Labs. 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. Not the case? We see several investors trying to strike it rich in options market by risking their entire savings. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. "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 is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. ", "Crescent add value across business development, acquisition and enhancement activities. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. 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. 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 .