This website is neither an offer to sell nor a solicitation of an offer to buy securities. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. Along the way, I believe Biden could become one of the most powerful Presidents in history. 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. I mean, whats the how are things actually trending right now? I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Crescent Capital is a leading investor across real estate, private equity and venture capital. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs,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. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. All data as of 12/31/2022. Our team have over 30 years experience assisting healthcare businesses accelerate growth. All rights reserved. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. You can sign up for additional alert options at any time. 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. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. 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. 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. But I would say overall, we are pleased with the underlying performance of the portfolio. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Our Company - Crescent Capital Group 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. I.e., is your forward leverage range target changing as a result of proposed acquisition? 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. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Crescent Capital BDC, Inc. - About - Portfolio The company assumes no obligation to update any such forward-looking statements. A couple more worth highlighting. 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. 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 . For more information about Crescent. I would now like to turn the conference over to Dan McMahon. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Back then they werent called hedge funds, they were called partnerships. 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. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? We have raised six funds since 2000 and we are a top quartile manager on global metrics. Crescent Capital Offers A Buying Opportunity For Dividend Investors You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. All information contained in this website is qualified by the terms of applicable offering documents. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Robert Dodd: Got it. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. 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. 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Crescent Capital BDC, Inc. - Investor Relations 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. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. ", "Crescent partnered with us and assisted in achieving our growth targets. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Crescent Point Energy (CPG) Receives a Buy from BMO Capital Henry Chung: Thanks, Jason. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. Networking We provide expertise and exposure to a network of relevant business contacts. Please turn to Slide 6, where youll see a summary of our results. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. There are significant risks that should be considered and reviewed when considering an investment in real estate. Excuse me. Operator: Ladies and gentlemen, this does conclude our conference call for today. 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. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. This website must be read in conjunction with the applicable offering documents or Private Placement Memorandum in order to understand fully all of the implications and risks of investing in real estate and a copy of the offering documents must be available to you in connection with any offering. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Discover more about our company and values. We initially share this idea in October 2018 and the stock already returned more than 150%. 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. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. 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. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. A link has been emailed to you - check your inbox. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. 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. Crescent Capital Partners | Private Equity Firm in Sydney Australia Jason Breaux: Sure. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. Crescent Capital Partners is a leading Australian private equity firm. 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. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Gerhard will then review our financial performance during the fourth quarter. Please go ahead. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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. 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. This video is provided by the Australian Investment Council. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. On a GAAP basis, fourth quarter net investment income per share was $0.52. Net realized losses were less than $0.05 per share. 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. 2023 Crescent Capital Investments The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Home - 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. 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. That would have been 9.35% in hedge fund fees. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Venture Capital Portfolio As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Private Equity Portfolio. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Invest NI pulls plug on new VC equity fund amid claims of earlier round 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. Legal Notice. 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 must click the activation link in order to complete your subscription. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. This serves to drive growth and performance improvement, accelerating value creation for shareholders. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Our success and reputation have been built on conservatism, ethics, passion, attention to detail, responsibility, and our belief that trust starts and ends with honesty and integrity. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Use of this website is governed by the Terms and Conditions. ", "Crescents practical and analytical approach enabled management to hit their goals. Private Credit | Sun Life Capital Management 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. Henry? His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. This increase was driven primarily by rising base rates and higher spreads. Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! We believe an active engagement model is a leading indicator of strong company performance. You must click the activation link in order to complete your subscription. . We still like this investment. The company has a one-year high of $10.68 and a one . Or was it a more normal course of business add-ons or growth or whatever? 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. "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. Access to our investment and operational team brings unparalleled support to our portfolio companies. 25+ years experience in strategy consulting, investment and business management and public company boards. Please go ahead. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Now lets shift to capitalization and liquidity. 2023 Crescent Capital Group LP. Only logged in subscribers of this site will be able to access the shared article. Operator: Thank you. Thank you! The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Product Marketing and Business Development Director. 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. Thank you, operator. (310) 235-5900 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. Stock Market | FinancialContent Business Page Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. 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. 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. it's been delivered there. . 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. 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. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. ", "It has been Crescents human capital that has been most valuable to us. 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. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. With that, Id now like to turn it over to Jason. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Your submission has been received! 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. With that, I will now turn it over to Gerhard. We look forward to speaking with you again soon. Healthcare is Crescent's largest sector by investment. 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. I will turn the call back to Jason Breaux for closing remarks. How are IPOs trending over time in this hub? And with that, operator, please open the line for questions. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Something went wrong while submitting the form. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Thanks for the question. Investors in our funds include both domestic and international pension funds and endowments. Get the full list, Youre viewing 4 of 6 team members. 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. Jason Breaux: Hey Robert, its Jason. Video: Cameron Johnson, CEO Nucleus Network. Get the full list, Youre viewing 5 of 21 co-investor. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Get the full list, Youre viewing 10 of 31 exits. Crescent Capital is a Belfast based venture capital fund manager Terms & Conditions He launched his hedge fund in 1956 with $105,100 in seed capital. . This has proven to be a competitive advantage, particularly in the current lending environment. List of top Crescent Capital Portfolio Companies - CrunchBase Don't have an account? We attributed the bulk of the quarters NAV decline to widening credit spreads. Crescent Capital Passive Investing: Which Real Estate Strategy is Right for You. So, how did Warren Buffett manage to generate high returns and beat the market? Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Im on Slide 19. Click To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. For more information about Crescent Capital Group, please visit www.crescentcap.com. Which investors participated in the most funding rounds within this hub? Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. Click here. to generate high returns in the 20% to 30% range. After that, there are no remaining term maturities until 2026. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising After submitting your request, you will receive an activation email to the requested email address. 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. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 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. Read More Our Strategy Learn more about our investing strategy. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. 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. 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. Jason reviewed several metrics related to our 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. The total size of the investment portfolio is around USD 400 million which . Average Retirement Savings By Age: Are You Normal? Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. We still like this investment. You can sign up for additional alert options at any time. There are no further questions at this time. Stock Market | Pittsburgh Post-Gazette 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. 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 .