2023 Crescent Capital Group LP. Terms & Conditions 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. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. A few more updates before I turn it over to Henry. . Crescent Capital is a leading investor across . ", "I strongly recommend working in partnership with Crescent Capital. Crescent Capital is a Belfast based venture capital fund manager. Gross deployment in the fourth quarter was $46 million. Website by GCI. Which companies in this hub have the most subsidiaries? KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Henry Chung: Thanks, Jason. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Use of this website is governed by the Terms and Conditions. Please go ahead. We believe an active engagement model is a leading indicator of strong company performance. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. 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. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Guidance All rights reserved. ", "Our growth strategy was perfectly aligned with Crescents. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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 . That would have been 9.35% in hedge fund fees. 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. Crescent Capital Offers A Buying Opportunity For Dividend Investors Great. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Id now like to turn it over to Henry to discuss our Q4 investment activity. Crescent Capital is a leading investor across real estate, private equity and venture capital. Private Credit | Sun Life Capital Management Crescent Capital is a Belfast based venture capital fund manager. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. We appreciate your continued interest in CCAP. 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. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. For more information about Crescent. Not the case? it's been delivered there. We have a large internal team which helps accelerate a portfolio company management teams decision making. Read More 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential ", "It has been Crescents human capital that has been most valuable to us. The all time high for this statistics is 5. Crescent Capital - Investing in the future Get our editors daily picks straight in your inbox! (310) 235-5900
Crescent Capital Group is a global alternative investment firm focused on below investment grade credit markets with primary strategies that include funds that invest in leveraged loans, high-yield bonds, mezzanine debt, special situations, and distressed securities. What's the most common final funding type when companies get acquired? Oops! A couple of reminders as it relates to the transaction. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. "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. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. I mean how would the how are the operating trends doing? Continued strong performance ratings and low nonaccrual levels. I.e., is your forward leverage range target changing as a result of proposed acquisition? Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. 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. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. Good morning, everyone, and thank you for joining our earnings call. Venture Capital Portfolio 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. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Crescent Capital Partners General Information. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Register now to read this article and more for free. 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. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. 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. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. 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. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. All data as of 12/31/2022. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. 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. If you experience any issues with this process, please contact us for further assistance. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 I would now like to turn the conference over to Dan McMahon. The first question comes from Robert Dodd of Raymond James. We are proud to have globally leading NPS scores with our executive partners. Get the full list, Youre viewing 10 of 31 exits. 2023 Crescent Capital Group LP. bdcir@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. If you experience any issues with this process, please contact us for further assistance. He launched his hedge fund in 1956 with $105,100 in seed capital. You talked about, obviously, youve lowered leverage ahead of that acquisition. . Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. The fund was more than double the size of . 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 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. Jason Breaux: Okay. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Thank you, operator. And it means its going to be harder than ever to hold onto any money you make. 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. All information contained in this website is qualified by the terms of applicable offering documents. 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 The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Crescent Capital is a Belfast based venture capital fund manager. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Net realized losses were less than $0.05 per share. You can sign up for additional alert options at any time. Use the PitchBook Platform to explore the full profile. Crescent Capital - Investing in the future Wed like to thank all of you for your continued support and time today. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Our portfolio at fair value was comprised of the following: Invest Money & Crypto With #Crescent | Crescent Bit Capital Thank you again, everyone for your interest and support of CCAP. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Only logged in subscribers of this site will be able to access the shared article. 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. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Legal Notice. LP investments in high-growth and distressed companies in the United States and abroad. Discover more about our company and values. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. 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. 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. Something went wrong while submitting the form. Stock Market | FinancialContent Business Page 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. Or is that just a timing? 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. management team, and recent news are also included. 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. 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. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. to generate high returns in the 20% to 30% range. Crescent Capital Partners | Private Equity Firm in Sydney Australia . Please check your spam or junk folder just in case Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, .