We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Jason Breaux: Thank you, Dan. (310) 235-5900 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. LP investments in high-growth and distressed companies in the United States and abroad. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. 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 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). Jason reviewed several metrics related to our portfolio. Guidance Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. You can sign up for additional alert options at any time. Only logged in subscribers of this site will be able to access the shared article. I will turn the call back to Jason Breaux for closing remarks. Before we begin, Ill start with some important reminders. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. 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. 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%. 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. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Turning back to this quarters earnings. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. 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. . Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. 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. 2009 Crescent Capital, All Rights Reserved. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Warren Buffett took 25% of all returns in excess of 6 percent. We are proud to have globally leading NPS scores with our executive partners. After submitting your request, you will receive an activation email to the requested email address. Get the full list, Youre viewing 10 of 31 exits. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. 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. This has proven to be a competitive advantage, particularly in the current lending environment. 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. That would have been 9.35% in hedge fund fees. 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. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. 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's shares are likely to rebound, as fundamental factors don't support the downtrend. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. We believe this is an important distinction to highlight for shareholders in a volatile market environment. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. 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. Website by GCI. bdcir@crescentcap.com. 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 . 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. 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. This means the bullish number of . Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Venture Capital Portfolio 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. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. 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. Jason Breaux: Thanks, Gerhard. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. 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. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. As of year-end, this GAAP expense accrual has been fully reversed. What's the most common types of sub-organization? Healthcare is Crescent's largest sector by investment. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Or was it a more normal course of business add-ons or growth or whatever? Excuse me. Or is that just a timing? Shares added by 1.69% iShares Russell 1000. Thank you again, everyone for your interest and support of CCAP. We still like this investment. 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. Our portfolio at fair value was comprised of the following: 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. 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. What's the investment trend over time for this hub? This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Investors in our funds include both domestic and international pension funds and endowments. . Passive Investing: Which Real Estate Strategy is Right for You. Terms & Conditions ", "Crescent brings a laser light focus on the things that drive value to our business.". 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. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Product Marketing and Business Development Director. 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. Continued strong performance ratings and low nonaccrual levels. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. Net realized losses were less than $0.05 per share. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. Turning to Slide 16. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Win whats next. This call is being recorded on Thursday, February 23, 2023. Robert Dodd: Got it. Something went wrong while submitting the form. Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Legal Notice. We still like this investment. SLC Fixed Income portfolios qualify as sustainable As of December 31, 2022 Key differentiators Experienced teams with deep private credit expertise Our investment teams have specialized in private debt for more than 40 years, offering the necessary skills to navigate a nuanced asset class. We have consistently been able to deliver significant value-add alongside our management teams. | The total size of the investment portfolio is around USD 400 million which . 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. Real Estate Portfolio Direct and LP investments across various asset types across the United States, including commercial, retail, multi-family, residential, hotel, development, self-storage and RV Parks. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. 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 .
St Elmo's Sunday Special Menu, Articles C