For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Gross deployment in the fourth quarter was $46 million. The good news is, this powerful new force can help you make a lot of money even in a bear market. As a reminder, this call is being recorded for replay purposes. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Networking We provide expertise and exposure to a network of relevant business contacts. 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. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands.
Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Crescent Capital Partners General Information. A couple of reminders as it relates to the transaction. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Two more credit trends to highlight. 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. Healthcare is Crescent's largest sector by investment. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescents track record is successfully managing through multiple economic and market cycles, provides us with significant and relevant experience navigating what could be a challenging environment in 2023 and beyond. Thank you again, everyone for your interest and support of CCAP. You can enter your email below to get our FREE report. Product Marketing and Business Development Director. 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 is an attractively priced BDC trading at a substantial 26% discount to its NAV/share.
Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 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. After submitting your request, you will receive an activation email to the requested email address. 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. ", "Our growth strategy was perfectly aligned with Crescents. And with that, Id like to turn it back to Jason for closing remarks. bdcir@crescentcap.com.
Crescent Capital Partners | Private Equity Firm in Sydney Australia Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support.
Stock Market | Pittsburgh Post-Gazette Use the PitchBook Platform to explore the full profile. . 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. You must click the activation link in order to complete your subscription. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland.
Crescent Capital Offers A Buying Opportunity For Dividend Investors Crescent Capital is a Belfast based venture capital fund manager. ", "Crescent add value across business development, acquisition and enhancement activities.
Sun Life-backed Crescent targets $6bn for two private debt funds Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Operator: Thank you. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments Jason Breaux: Sure. Crescent raised its first fund in 1992 and has consistently been a leader in the private debt market, focusing on senior secured unitranche securities and junior debt. Crescent Capital is a Belfast based venture capital fund manager.
Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. If you experience any issues with this process, please contact us for further assistance. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. 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 offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. That would have been 9.35% in hedge fund fees. Please go ahead. S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. And it means its going to be harder than ever to hold onto any money you make. Something went wrong while submitting the form. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. 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. Along the way, I believe Biden could become one of the most powerful Presidents in history. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia.
Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! Operator: Ladies and gentlemen, this does conclude our conference call for today. There are no further questions at this time. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp.
Crescent Capital Group Closes Second Direct Lending Fund at You should only be asked to sign in once.
Crescent Capital Investor Profile: Portfolio & Exits | PitchBook Private Equity Portfolio. 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. You can sign up for additional alert options at any time. 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. We provide support for founders and senior management teams to accelerate the achievement of their goals. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. 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. Please turn to Slide 6, where youll see a summary of our results. 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 Video: Melinda McGrath, CEO Australian Clinical Labs. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets.
We have consistently been able to deliver significant value-add alongside our management teams. LOS ANGELES, February 28, 2023--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 .
Crescent Capital We are proud to have globally leading NPS scores with our executive partners. While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. (310) 235-5900
We still like this investment. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Warren Buffett has been investing and compounding for at least 65 years. You talked about, obviously, youve lowered leverage ahead of that acquisition. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022.
Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. This has proven to be a competitive advantage, particularly in the current lending environment. Click 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says.
And with that, operator, please open the line for questions. Wed like to thank all of you for your continued support and time today. 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. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Jason reviewed several metrics related to our portfolio. We attributed the bulk of the quarters NAV decline to widening credit spreads. We initially share this idea in October 2018 and the stock already returned more than 150%.
All data as of 12/31/2022. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Thank you. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Which companies in this hub have the most subsidiaries? 2023 Crescent Capital Group LP. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position.
Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Crescent Capital is a leading investor across . Now lets shift to capitalization and liquidity. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Jason Breaux: Yes.
Crescent Point Energy (CPG) Receives a Buy from BMO Capital I mean, whats the how are things actually trending right now? 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. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Website by GCI. Video: Matt Courtney, CEO Construction Sciences. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Operator: Thank you. You can get rich by returning 20% per year and compounding that for several years. 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. 2023 PitchBook. So lets begin.
Stock Market | FinancialContent Business Page For more information about Crescent. Don't have an account? Im going to ask you a question that sort of relates to credit . 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. We appreciate your continued interest in CCAP. Reduced net debt by approximately $850 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. 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. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Discover more about our company and values. Robert Dodd: Got it. Register now to read this article and more for free. 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 see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. On a GAAP basis, fourth quarter net investment income per share was $0.52. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. 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. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. For more information about Crescent Capital Group, please visit www.crescentcap.com. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. You must click the activation link in order to complete your subscription. 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. 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. 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. 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. I would now like to turn the conference over to Dan McMahon. Get the full list, Youre viewing 5 of 21 co-investor. Before we begin, Ill start with some important reminders. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 87% in this quarter were raising one or two, so it appears pretty stable. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. There are significant risks that should be considered and reviewed when considering an investment in real estate. The all time high for this statistics is 5. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey.
Crescent Capital - Investing in the future 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. Turning to Slide 16. The company believes that adjusted NII per share provides useful information to investors regarding financial performance because its one method the company uses to measure its financial condition and results of operations. 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. Robert Dodd: Hi guys. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. 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%. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. If youre looking for capital and an active partner to accelerate the growth of your business or thinking about exiting by bringing in new investors, please feel free to contact me by phone or email to find out more.
Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook Robert Dodd: Got it. to generate high returns in the 20% to 30% range. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period.
Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Warren Buffett took 25% of all returns in excess of 6 percent. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. The $46 million in gross deployment compares to approximately $71 million in aggregate exits, sales and repayments in the quarter, inclusively a final $8 million liquidating return of capital from our joint venture, which, as Jason noted, is now fully dissolved.
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