crescent capital portfoliocrescent capital portfolio

With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital BDC, Inc. - About - Portfolio And with that, Id like to turn it back to Jason for closing remarks. 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. We have a large internal team which helps accelerate a portfolio company management teams decision making. Crescent Capital is a Belfast based venture capital fund manager. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. 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. But I would say overall, we are pleased with the underlying performance of the portfolio. CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2022. Operator: Thank you. Access to our investment and operational team brings unparalleled support to our portfolio companies. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Something went wrong while submitting the form. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Click here. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Win whats next. And with that, operator, please open the line for questions. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. We are proud to have globally leading NPS scores with our executive partners. For more information about Crescent Capital Group, please visit www.crescentcap.com. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Which companies in this hub have the most subsidiaries? This means the bullish number of . All data as of 12/31/2022. Discover more about our company and values. Home - Crescent Capital Investments Wed like to thank all of you for your continued support and time today. There are no further questions at this time. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Please also note that past performance or market information is not a guarantee of future results. Your submission has been received! 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. Im going to ask you a question that sort of relates to credit . View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. After that, there are no remaining term maturities until 2026. Guidance Crescent Capital is a leading investor across real estate, private equity and venture capital. 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. Read More Oops! Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. 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. Product Marketing and Business Development Director. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. On a GAAP basis, fourth quarter net investment income per share was $0.52. 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. 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. (310) 235-5900 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. bdcir@crescentcap.com. 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. Crescent Point announces 2022 results & reserves | BOE Report Use of this website is governed by the Terms and Conditions. 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. Operator: Ladies and gentlemen, this does conclude our conference call for today. Powered by Investor Host, Multi-Family & Commercial Property Investing, Understanding How Real Estate Syndications Work in Practice, The Tax Benefits of Investing in Multifamily Real Estate. Description. We have just sent you an email so you can verify your account. The companies continue to grow on the top line and the bottom line. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. As a reminder, this call is being recorded for replay purposes. "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 BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call 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. There are significant risks that should be considered and reviewed when considering an investment in real estate. . The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Please turn to Slide 15 where we highlight our recent activity. 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. We are an equity partner that brings more than money to the relationship. Privacy Policy Crescent wraps up eighth private credit fund at $8bn | PE Hub 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. 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. Importantly, what we consider recurring yield related investment income comprised of interest income, fixed income, amortization and unused fees was up 21% quarter-over-quarter driven by rising base rates. All information contained in this website is qualified by the terms of applicable offering documents. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. We believe this is an important distinction to highlight for shareholders in a volatile market environment. 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. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments If you experience any issues with this process, please contact us for further assistance. Good morning, everyone, and thank you for joining our earnings call. Turning back to this quarters earnings. The company has a one-year high of $10.68 and a one . 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. Focus on Seed and Series A. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Not the case? 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. So lets begin. Another, on your deployments in the quarter, obviously will follow on. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. To participate please dial (877 . 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. A couple more worth highlighting. . That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Which investors participated in the most funding rounds within this hub? Shares added by 1.69% iShares Russell 1000. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. 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. Private Equity Portfolio. Jason Breaux: Sure. 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. 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. Do you expect to be running on a combined basis going forward? All rights reserved. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. You should only be asked to sign in once. We thank you for your participation and ask that you please disconnect your lines. 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. Or is that just a timing? Along the way, I believe Biden could become one of the most powerful Presidents in history. 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. Passive Investing: Which Real Estate Strategy is Right for You. 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. Offerings across the credit quality spectrum 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 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 unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. management team, and recent news are also included. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. Crescent Capital is a leading investor across . We have consistently been able to deliver significant value-add alongside our management teams. 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. If you experience any issues with this process, please contact us for further assistance. 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. 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). Please check your spam or junk folder just in case We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Thank you. Only logged in subscribers of this site will be able to access the shared article. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. That would have been 9.35% in hedge fund fees. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Great. Thank you again, everyone for your interest and support of CCAP. Get the full list, Youre viewing 5 of 21 co-investor. 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 . Investing in the future of finance, education, SaaS, logistics, and more. For example S&P 500 Index returned 43.4% in 1958. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? Terms & Conditions I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. 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. Our Company - 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. 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. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. You talked about, obviously, youve lowered leverage ahead of that acquisition. 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. Im on Slide 19. Video: Cameron Johnson, CEO Nucleus Network. Register now to read this article and more for free. Henry Chung: Thanks, Jason. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. 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. You must click the activation link in order to complete your subscription. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Robert Dodd: Got it. Diversification will not guarantee profitability or protection against loss. Crescent Capital - Investing in the future The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Video: Matt Courtney, CEO Construction Sciences. Jason Breaux: Yes. 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. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. We initially share this idea in October 2018 and the stock already returned more than 150%. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Gerhard Lombard: Thanks, Henry, and good morning, everyone. Jason reviewed several metrics related to our portfolio. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. The weighted average loan-to-value in the portfolio at time of underwriting was approximately 40%, which provides the same margin of safety from both an enterprise value perspective as well as capitalized risk beneath our tranche that is available to support our 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. LP investments in high-growth and distressed companies in the United States and abroad. (310) 235-5900 Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 2023 Crescent Capital Group LP. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. So, how did Warren Buffett manage to generate high returns and beat the market? Crescent Capital is a Belfast based venture capital fund manager Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. 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. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. With that, Id now like to turn it over to Jason. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results 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 focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world.