The firm seeks to invest in middle-market companies across Australia and New Zealand with a focus on the industrial, financial services, healthcare, consumer brands, technology, and education sectors. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. I mean, whats the how are things actually trending right now? That would have been 9.35% in hedge fund fees. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. I.e., is your forward leverage range target changing as a result of proposed acquisition? As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Crescent Point announces 2022 results & reserves | BOE Report ", "Crescent add value across business development, acquisition and enhancement activities. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 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. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . 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. You can get rich by returning 20% per year and compounding that for several years. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Can you give us any color around that? 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. Which companies in this hub have the most subsidiaries? Crescent Capital Group Announces Hiring of Jonathan Harari as Global Im going to ask you a question that sort of relates to credit . Robert Dodd: Got it. 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. 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. We provide support for founders and senior management teams to accelerate the achievement of their goals. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. Crescent wraps up eighth private credit fund at $8bn | PE Hub Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! 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. This has proven to be a competitive advantage, particularly in the current lending environment. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Home - Crescent Capital Investments Crescent Capital Partners is a leading Australian private equity firm. 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. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch 2023 Crescent Capital Group LP. Jason Breaux: Sure. Product Marketing and Business Development Director. Video: Melinda McGrath, CEO Australian Clinical Labs. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Crescent Capital is a Belfast based venture capital fund manager. Our portfolio at fair value was comprised of the following: Id now like to turn it over to Henry to discuss our Q4 investment activity. Get the full list, Youre viewing 5 of 21 co-investor. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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 . Crescent Credit. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. Stock Market | Pittsburgh Post-Gazette How much aggregate funding have these organizations raised over time? S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Read More Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. Click here. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. 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. Use of this website is governed by the Terms and Conditions. Please check your spam or junk folder just in case Diversification will not guarantee profitability or protection against loss. All information contained in this website is qualified by the terms of applicable offering documents. | Crescents investment activities are managed by dedicated teams focused on each of these asset classes. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". That means much bigger government. 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. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 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. Crescent Capital is a Belfast based venture capital fund manager. In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. We are proud to have globally leading NPS scores with our executive partners. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation The team brings together complementary backgrounds in structured finance, private equity, law, engineering, and project development, with more than 80 years of direct financing and investment expertise. 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. Read More Portfolio See our recent purchases and offers. 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. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. ", "Crescents practical and analytical approach enabled management to hit their goals. Crescent Capital Partners General Information. 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. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. 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. 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. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook If Warren Buffetts hedge fund didnt generate any outperformance (i.e. What's the most common final funding type when companies get acquired? This call is being recorded on Thursday, February 23, 2023. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Gerhard will then review our financial performance during the fourth quarter. 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. Operator: Thank you. 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. 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. We have a large internal team which helps accelerate a portfolio company management teams decision making. 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. Crescent Capital BDC, Inc. - About - Portfolio I mean how would the how are the operating trends doing? Venture Capital Portfolio 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. Networking We provide expertise and exposure to a network of relevant business contacts. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. 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. Wed like to thank all of you for your continued support and time today. Crescent Capital is a leading investor across . We look forward to speaking with you again soon. Please go ahead. Im on Slide 19. You must click the activation link in order to complete your subscription. Do you expect to be running on a combined basis going forward? Total investment income of $34.6 million for the fourth quarter, the highest quarterly figure weve reported since inception compares to $29 million for the prior quarter, representing an increase of approximately 19%. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. 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. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. Website by GCI. After submitting your request, you will receive an activation email to the requested email address. 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. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Robert Dodd: Hi guys. Shares added by 1.69% iShares Russell 1000. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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. Terms & Conditions Website by GCI. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Active vs. You can sign up for additional alert options at any time. 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30.