Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. Crescent Capital is a Belfast based venture capital fund manager. 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. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. 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. You must click the activation link in order to complete your subscription. Thank you. 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. . ", "Our growth strategy was perfectly aligned with Crescents. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Click here. List of top Crescent Capital Portfolio Companies - CrunchBase management team, and recent news are also included. Warren Buffett took 25% of all returns in excess of 6 percent. 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. Crescent Capital is a leading investor across real estate, private equity and venture capital. Click A few more updates before I turn it over to Henry. 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. 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. How much aggregate funding have these organizations raised over time? Crescent Capital is a Belfast based venture capital fund manager. ET. Something went wrong while submitting the form. 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. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Crescent Credit. 2023 Crescent Capital Investments It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? | (310) 235-5900 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. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Please turn to Slide 15 where we highlight our recent activity. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Thank you! 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. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Read More Our team have over 30 years experience assisting healthcare businesses accelerate growth. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Gross deployment in the fourth quarter was $46 million. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. You must click the activation link in order to complete your subscription. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Do you expect to be running lower leverage than was the case to present historically? Our portfolio at fair value was comprised of the following: For more information about Crescent Capital Group, please visit www.crescentcap.com. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? If Warren Buffetts hedge fund didnt generate any outperformance (i.e. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Back then they werent called hedge funds, they were called partnerships. Excuse me. If you experience any issues with this process, please contact us for further assistance. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. 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. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. We provide support for founders and senior management teams to accelerate the achievement of their goals. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Crescent Capital Group - Wikipedia Crescent Capital We thank you for your participation and ask that you please disconnect your lines. The companies continue to grow on the top line and the bottom line. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. ", "Crescents practical and analytical approach enabled management to hit their goals. But I would say overall, we are pleased with the underlying performance of the portfolio. 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. 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. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Invest NI pulls plug on new VC equity fund amid claims of earlier round The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Jason Breaux: Yes. Guidance Can you give us any color around that? We attributed the bulk of the quarters NAV decline to widening credit spreads. And it means its going to be harder than ever to hold onto any money you make. Jason Breaux: Thank you, Dan. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. We still like this investment. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook 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. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Crescent Capital Partners is a leading Australian private equity firm. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. 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 . Home - Crescent Capital With that, Id now like to turn it over to Jason. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential 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. With that, I will now turn it over to Gerhard. Venture Capital Portfolio. 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. Good morning, everyone, and thank you for joining our earnings call. 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. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 2023 Crescent Capital Group LP. 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. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. This situates us well to benefit from increases in base rates above our average floors as is the case this quarter with continued growth in our interest income line item. Continued strong performance ratings and low nonaccrual levels. Reduced net debt by approximately $850 The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. 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. 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. There are no further questions at this time. bdcir@crescentcap.com. Average Retirement Savings By Age: Are You Normal? Video: Cameron Johnson, CEO Nucleus Network. What's the most common final funding type when companies get acquired? 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. Website by GCI. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Net realizations of $26 million in the fourth quarter, coupled with unrealized mark-to-market losses on our investments ultimately led to our total investment portfolio, holding roughly steady at approximate fair value of $1.3 billion as of December 31, 2022, down approximately $30 million quarter-over-quarter. We look forward to speaking with you again soon. . 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 . 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. Discover more about our company and values. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Before we begin, Ill start with some important reminders. 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. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Crescent Capital BDC, Inc. (NASDAQ: CCAP) is a business development company focused on originating and investingin the debt of private middle market companies principally located in the U.S. 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. Crescent Capital - Investing in the future It has a well-diversified portfolio and is unique in that it also has international exposure. If you experience any issues with this process, please contact us for further assistance. Home - Crescent Capital Investments I would now like to turn the conference over to Dan McMahon. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation The total size of the investment portfolio is around USD 400 million which . 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. Sorry, no results has been found matching your query. A link has been emailed to you - check your inbox. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard In addition, a reconciliation of this measure may also be found in our earnings release. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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 Group Closes Eighth Credit Solutions Fund, Raising $8 Crescent Capital is a leading investor across . Operator: Thank you. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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.

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