crescent capital portfolio

secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. 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). Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. Our net investment income outpaced our regular dividend by $0.11 per share, which was offset by net unrealized depreciation on investments of $0.44 per share. Series A, Seed, Private Equity), Average of the Crunchbase Ranks of the organizations in this hub, Organization Name: Name of the Organization, Total Funding Amount: Total amount raised across all funding rounds, CB Rank (Organization): Algorithmic rank assigned to the top 100,000 most active Organizations, Trend Score (30 Days): Movement in Rank over the last 30 days using a score from -10 to 10, Total number of funding rounds associated with this hub, Total funding amount raised across all funding rounds, Total number of acquisitions made by organizations in the hub, Announced Date: Date that the Funding Round was publicly announced, Organization Name: Name of the organization that got funded, Transaction Name: Auto-generated name of transaction (e.g. Click Private Equity Portfolio. This increase was driven primarily by rising base rates and higher spreads. Average Retirement Savings By Age: Are You Normal? ", "Crescents practical and analytical approach enabled management to hit their goals. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. This means the bullish number of . Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. 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. To participate please dial (877 . At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . 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. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Oops! Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. | But I would say overall, we are pleased with the underlying performance of the portfolio. We did intentionally delever a bit here in Q4 in anticipation of the merger. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. 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. Great. There are no further questions at this time. Video: Matt Courtney, CEO Construction Sciences. You can get rich by returning 20% per year and compounding that for several years. Do you expect to be running lower leverage than was the case to present historically? 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. We look forward to speaking with you again soon. Or is that just a timing? This website is neither an offer to sell nor a solicitation of an offer to buy securities. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Healthcare is Crescent's largest sector by investment. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. Which companies in this hub have the most subsidiaries? Good morning, everyone, and thank you for joining our earnings call. 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. Operator: Thank you. Shares added by 1.69% iShares Russell 1000. I mean, whats the how are things actually trending right now? Focus on Seed and Series A. And then one more, if I can. As a member of the Australian Investment Council, we are bound by a set of member standards including the Australian Investment Council Code of Conduct, as well as responsible investment and valuation guidelines. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Access to our investment and operational team brings unparalleled support to our portfolio companies. Use of this website is governed by the Terms and Conditions. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. We see several investors trying to strike it rich in options market by risking their entire savings. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. We are an equity partner that brings more than money to the relationship. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. . 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. Website by GCI. A link has been emailed to you - check your inbox. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. Which investors participated in the most funding rounds within this hub? Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Get the full list, Morningstar Institutional Equity Research. | Turning back to this quarters earnings. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Along the way, I believe Biden could become one of the most powerful Presidents in history. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. If you experience any issues with this process, please contact us for further assistance. 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. After submitting your request, you will receive an activation email to the requested email address. You should only be asked to sign in once. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. 2023 Crescent Capital Group LP. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. . 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. This video is provided by the Australian Investment Council. Before we begin, Ill start with some important reminders. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. 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. Please go ahead. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. I think you said something to the effect of the portfolio companies have adequate liquidity, and in some cases, its been addressed or something like that. 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. Please turn to Slide 6, where youll see a summary of our results. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. 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. 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. 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 Capital Partners General Information. ", "It has been Crescents human capital that has been most valuable to us. Crescent Capital is a leading investor across . Register now to read this article and more for free. 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. 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%. With that, I will now turn it over to Gerhard. ET. Based in New York, Mr. Harari is responsible for developing and executing Crescents strategic sales and marketing plan for clients and assets, including identifying potential new investors, developing and maintaining client relationships, designing new investment solutions and managing Crescents investor relations and client solutions team. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Diversification will not guarantee profitability or protection against loss. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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. 2009 Crescent Capital, All Rights Reserved. Offerings across the credit quality spectrum "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. Now lets shift to capitalization and liquidity. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. There are significant risks that should be considered and reviewed when considering an investment in real estate. Im going to ask you a question that sort of relates to credit . 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. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. I will turn the call back to Jason Breaux for closing remarks. And with that, Id like to turn it back to Jason for closing remarks. 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. You must click the activation link in order to complete your subscription. 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. Please check your spam or junk folder just in case Henry? ", "Crescent brings a laser light focus on the things that drive value to our business.". 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 word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. Crescent Credit. 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. 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. 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. How much aggregate funding have these organizations raised over time? Jason Breaux: Hey Robert, its Jason. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. We provide support for founders and senior management teams to accelerate the achievement of their goals. A couple of reminders as it relates to the transaction. So, how did Warren Buffett manage to generate high returns and beat the market? An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Video: Cameron Johnson, CEO Nucleus Network. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. (310) 235-5900 We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. to generate high returns in the 20% to 30% range. We thank you for your participation and ask that you please disconnect your lines. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. ", "I strongly recommend working in partnership with Crescent Capital. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. We believe this is an important distinction to highlight for shareholders in a volatile market environment. 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. 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. The obvious, I mean, how you gave the interest coverage based on year-end rates. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. Investors in our funds include both domestic and international pension funds and endowments. Guidance Investing in the future of finance, education, SaaS, logistics, and more. Do you expect to be running on a combined basis going forward? We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Excuse me. Active vs. This call is being recorded on Thursday, February 23, 2023. And it means its going to be harder than ever to hold onto any money you make. it's been delivered there. 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.