We provide support for founders and senior management teams to accelerate the achievement of their goals. 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. The company has a one-year high of $10.68 and a one . 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. 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. 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. All information contained in this website is qualified by the terms of applicable offering documents. From cross portfolio introductions and business development, provision of consulting style support on key projects, through to assisting portfolio companies through major strategic change, the Crescent investment team has a unique blend of high end consulting and operational skill sets to support the investee companies. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. "Jonathan brings a wealth of investor relations experience to Crescent, and we are excited for his leadership as we seek to grow our client relationships and respond to the increasing demand for our alternative credit offerings," said Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. ", "Crescents practical and analytical approach enabled management to hit their goals. 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. Privacy Policy 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 Capital is a Belfast based venture capital fund manager. We initially share this idea in October 2018 and the stock already returned more than 150%. We believe this is an important distinction to highlight for shareholders in a volatile market environment. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. Continued strong performance ratings and low nonaccrual levels. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. bdcir@crescentcap.com. The first question comes from Robert Dodd of Raymond James. You can sign up for additional alert options at any time. So, how did Warren Buffett manage to generate high returns and beat the market? . How are IPOs trending over time in this hub? The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. it's been delivered there. 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. All data as of 12/31/2022. | At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. 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. 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. Along the way, I believe Biden could become one of the most powerful Presidents in history. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. ", "Our growth strategy was perfectly aligned with Crescents. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. The all time high for this statistics is 5. 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. Get the full list, Youre viewing 10 of 31 exits. That would have been 9.35% in hedge fund fees. 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. Please check your spam or junk folder just in case We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. . I.e., is your forward leverage range target changing as a result of proposed acquisition? Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. 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. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Henry? 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. Read More To participate please dial (877 . Net realized losses were less than $0.05 per share. Not the case? How much aggregate funding have these organizations raised over time? The good news is, this powerful new force can help you make a lot of money even in a bear market. Robert Dodd: Hi guys. This increase was driven primarily by rising base rates and higher spreads. Investors in our funds include both domestic and international pension funds and endowments. But I would say overall, we are pleased with the underlying performance of the portfolio. If you experience any issues with this process, please contact us for further assistance. Gross deployment in the fourth quarter was $46 million. During this conference call, we may discuss certain non-GAAP measures as defined by SEC Regulation G, such as adjusted net investment income or NII per share. 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. Robert Dodd: Got it. (310) 235-5900 In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Thank you. 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 . We initially share this idea in October 2018 and the stock already returned more than 150%. Private Equity Portfolio. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. Im going to ask you a question that sort of relates to credit . UAE-Based Edtech Startup Ostaz Is On A Mission To Become A One-Stop-Shop For Education, AirAsias Tony Fernandes Refocuses Back on a Superapp Just for Travel, Malaysia Healthcare Partners with AirAsia, Air India Express, AirAsia begin merger drill, MiL.k launched its first global point exchange service with airasia, Datactics Jamie Gordon on Big Financial Institutions and their Messy Datasets. Description. We have just sent you an email so you can verify your account. 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. 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. ET. . Active vs. On a GAAP basis, fourth quarter net investment income per share was $0.52. 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. Turning back to this quarters earnings. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Gerhard will then review our financial performance during the fourth quarter. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. Robert Dodd: Got it. Use of this website is governed by the Terms and Conditions. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Healthcare is Crescent's largest sector by investment. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Now lets shift to capitalization and liquidity. Crescent Capital Partners General Information. 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. Networking We provide expertise and exposure to a network of relevant business contacts. The team brings together complementary backgrounds in structured finance, private equity, law, engineering, and project development, with more than 80 years of direct financing and investment expertise. For example S&P 500 Index returned 43.4% in 1958. Our investment portfolio continues to consist primarily of senior secured first lien and unitranche first lien loans, collectively representing 90% of the portfolio at fair value, up from 89% in the prior quarter. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Do you expect to be running on a combined basis going forward? Or was it a more normal course of business add-ons or growth or whatever? Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, .

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