Please go ahead. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? 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. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs,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. This serves to drive growth and performance improvement, accelerating value creation for shareholders. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. So lets begin. ", "Our growth strategy was perfectly aligned with Crescents. After that, there are no remaining term maturities until 2026. Reduced net debt by approximately $850 Crescent Capital is a Belfast based venture capital fund manager We immerse ourselves in your business Experience With our experience and knowledge we can unlock the full potential of your business. 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. Jason Breaux: Thank you, Dan. 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. ", "Crescent partnered with us and assisted in achieving our growth targets. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. This increase was driven primarily by rising base rates and higher spreads. Robert Dodd: Hi guys. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. . Turning back to this quarters earnings. We believe an active engagement model is a leading indicator of strong company performance. 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. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. There are no further questions at this time. Henry? A link has been emailed to you - check your inbox. 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. He launched his hedge fund in 1956 with $105,100 in seed capital. 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. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. It has a well-diversified portfolio and is unique in that it also has international exposure. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. 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. | Operator: Thank you. The company has a one-year high of $10.68 and a one . As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. 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. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Access to our investment and operational team brings unparalleled support to our portfolio companies. A couple more worth highlighting. That would have been 9.35% in hedge fund fees. Get the full list, Youre viewing 4 of 6 team members. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Thanks for the question. Crescent Capital is a Belfast based venture capital fund manager. 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. 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. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. We have just sent you an email so you can verify your account. Robert Dodd: Got it. ", "Crescent brings a laser light focus on the things that drive value to our business.". ET. 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. Something went wrong while submitting the form. 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. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. We initially share this idea in October 2018 and the stock already returned more than 150%. If you experience any issues with this process, please contact us for further assistance. Great. Website by GCI. 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. Crescent Capital is a leading investor across . On a GAAP basis, fourth quarter net investment income per share was $0.52. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. ", "It has been Crescents human capital that has been most valuable to us. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. So, how did Warren Buffett manage to generate high returns and beat the market? Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Back then they werent called hedge funds, they were called partnerships. Turning to Slide 16. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Im on Slide 19. 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. Shares added by 1.69% iShares Russell 1000. Warren Buffett has been investing and compounding for at least 65 years. 25+ years experience in strategy consulting, investment and business management and public company boards. A few more updates before I turn it over to Henry. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. As you can see on the right-hand side of the slide, we have a low level of debt maturities over the next few years with $150 million maturity related to our 5.95% unsecured notes in July 2023. Offerings across the credit quality spectrum Two more credit trends to highlight. You should only be asked to sign in once. How are IPOs trending over time in this hub? There are significant risks that should be considered and reviewed when considering an investment in real estate. 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. Thank you again, everyone for your interest and support of CCAP. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Investors in our funds include both domestic and international pension funds and endowments. Or was it a more normal course of business add-ons or growth or whatever? Venture Capital Portfolio. 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%. Terms & Conditions We are proud to have globally leading NPS scores with our executive partners. Video: Paul Wappett, CEO Australian Institute of Business. to generate high returns in the 20% to 30% range. You can enter your email below to get our FREE report. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. We still like this investment. Please check your spam or junk folder just in case The all time high for this statistics is 5. Warren Buffett took 25% of all returns in excess of 6 percent. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? Our team have over 30 years experience assisting healthcare businesses accelerate growth. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. For example S&P 500 Index returned 43.4% in 1958. Private Equity Portfolio. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Now lets shift to capitalization and liquidity. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. I mean how would the how are the operating trends doing? Oops! An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. We initially share this idea in October 2018 and the stock already returned more than 150%. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. 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. 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. Crescent Capital is a Belfast based venture capital fund manager. 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. Average Retirement Savings By Age: Are You Normal? For more information about Crescent. 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. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Which companies in this hub have the most subsidiaries? Your submission has been received! This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Continued strong performance ratings and low nonaccrual levels. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. 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. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Jason Breaux: Thanks, Gerhard. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. Actually Warren Buffett failed to beat the S&P 500 Index in 1958, returned only 40.9% and pocketed 8.7 percentage of it as fees. 2023 PitchBook. And with that, Id like to turn it back to Jason for closing remarks. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Good morning, everyone, and thank you for joining our earnings call. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. . 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 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. 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. 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. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. All rights reserved. Crescent Capital is a Belfast based venture capital fund manager. Or is that just a timing? This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Investing in the future of finance, education, SaaS, logistics, and more. 2023 Crescent Capital Group LP. After submitting your request, you will receive an activation email to the requested email address. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Click here. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. You talked about, obviously, youve lowered leverage ahead of that acquisition. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. 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. All information contained in this website is qualified by the terms of applicable offering documents. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. A couple of reminders as it relates to the transaction. . 2023 Crescent Capital Investments Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Website by GCI. The company assumes no obligation to update any such forward-looking statements. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. 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. 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 Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. Please also note that past performance or market information is not a guarantee of future results. Thank you, operator. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. That means much bigger government. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. 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. Net realized losses were less than $0.05 per share. Use the PitchBook Platform to explore the full profile. 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 . We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London.
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