Video: Paul Wappett, CEO Australian Institute of Business. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. All information contained in this website is qualified by the terms of applicable offering documents. 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. Read More Portfolio See our recent purchases and offers. 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%. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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. | We initially share this idea in October 2018 and the stock already returned more than 150%. . Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Please also note that past performance or market information is not a guarantee of future results. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. For example S&P 500 Index returned 43.4% in 1958. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Private Equity Portfolio. 2023 Crescent Capital Group LP. If you experience any issues with this process, please contact us for further assistance. Wed like to thank all of you for your continued support and time today. You must click the activation link in order to complete your subscription. Crescent Capital is a Belfast based venture capital fund manager. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Please go ahead. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. Offerings across the credit quality spectrum As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. ", "Crescent add value across business development, acquisition and enhancement activities. After submitting your request, you will receive an activation email to the requested email address. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 2023 Crescent Capital Group LP. With that, Id now like to turn it over to Jason. Good morning, everyone, and thank you for joining our earnings call. Im on Slide 19. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Video: Matt Courtney, CEO Construction Sciences. 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. ", "Crescent partnered with us and assisted in achieving our growth targets. 2009 Crescent Capital, All Rights Reserved. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. 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 . Product Marketing and Business Development Director. You must click the activation link in order to complete your subscription. 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. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. 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 At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Do you expect to be running on a combined basis going forward? Focus on Seed and Series A. Shares added by 1.69% iShares Russell 1000. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. We have a large internal team which helps accelerate a portfolio company management teams decision making. 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. The fund was more than double the size of . Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. For more information about Crescent Capital Group, please visit www.crescentcap.com. Crescent Credit. This video is provided by the Australian Investment Council. Use of this website is governed by the Terms and Conditions. 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. bdcir@crescentcap.com. From a liquidity perspective, as of year-end, we had $225 million of undrawn capacity, subject to leverage, borrowing base and other restrictions and $17 million in cash and cash equivalents. 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. You should only be asked to sign in once. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 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. And then one more, if I can. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. For more information about Crescent. We have just sent you an email so you can verify your account. You can get rich by returning 20% per year and compounding that for several years. There are no further questions at this time. Thank you, operator. 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. The total size of the investment portfolio is around USD 400 million which . 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. 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). We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. 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. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. To participate please dial (877 . Click It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. . 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 brings a laser light focus on the things that drive value to our business.". Investing in the future of finance, education, SaaS, logistics, and more. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Wed be happy to take your questions, and please understand that we may be limited in some answers due to the ongoing First Eagle transaction. We see several investors trying to strike it rich in options market by risking their entire savings. Crescent Capital Partners is a leading Australian private equity firm. Jason Breaux: Hey Robert, its Jason. Consistent with Crescents track record of investing through cycles over the past 30-plus years, we believe we have constructed a portfolio that consists of companies that are adequately capitalized to address the current macroeconomic environment and have taken a proactive approach to bolstering liquidity in select situations where it may be warranted. Crescent Capital is a leading investor across real estate, private equity and venture capital. Use the PitchBook Platform to explore the full profile. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. | Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Jason reviewed several metrics related to our portfolio. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? How much aggregate funding have these organizations raised over time? Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. WhatsApp acquired by Facebook), Total number of people associated with this hub, Full Name: First and last name of a Person, Primary Organization: The organization associated to the person's primary job, Primary Job Title: The person's primary job title, CB Rank (Person): Algorithmic rank assigned to the top 100,000 most active People, Total amount raised at IPO of all the organizations associated with this hub, Median amount raised at IPO of all the organizations associated with this hub, Total valuation at IPO of all the organizations associated with this hub, Median valuation at IPO of all the organizations associated with this hub, Average date at which organizations in this hub went public, Percentage of organizations in this hub that have removed their stock from the stock exchange. As a reminder, this call is being recorded for replay purposes. 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. 87% in this quarter were raising one or two, so it appears pretty stable. How are IPOs trending over time in this hub? This call is being recorded on Thursday, February 23, 2023. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Excuse me. You can sign up for additional alert options at any time. Crescent Capital is a Belfast based venture capital fund manager. As of year-end, this GAAP expense accrual has been fully reversed. We have consistently been able to deliver significant value-add alongside our management teams. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. And with that, Id like to turn it back to Jason for closing remarks. 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. And with that, operator, please open the line for questions. 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. ", "Crescents practical and analytical approach enabled management to hit their goals. 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. 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. 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. Networking We provide expertise and exposure to a network of relevant business contacts.
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