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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. 2023 PitchBook. Crescent Capital is a leading investor across . Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Gerhard will then review our financial performance during the fourth quarter. And with that, Id like to turn it back to Jason for closing remarks. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Sorry, no results has been found matching your query. Video: Cameron Johnson, CEO Nucleus Network. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. You can get rich by returning 20% per year and compounding that for several years. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. . 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. 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. ", "I strongly recommend working in partnership with Crescent Capital. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. We have consistently been able to deliver significant value-add alongside our management teams. How are IPOs trending over time in this hub? Turning back to this quarters earnings. . We believe an active engagement model is a leading indicator of strong company performance. If you experience any issues with this process, please contact us for further assistance. This serves to drive growth and performance improvement, accelerating value creation for shareholders. 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. Click here. 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. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Gross deployment in the fourth quarter was $46 million. Healthcare is Crescent's largest sector by investment. Thank you! A link has been emailed to you - check your inbox. 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 provide support for founders and senior management teams to accelerate the achievement of their goals. 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 . Get the full list, Morningstar Institutional Equity Research. 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Networking We provide expertise and exposure to a network of relevant business contacts. 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. Im going to ask you a question that sort of relates to credit . Good morning, everyone, and thank you for joining our earnings call. With that, Id now like to turn it over to Jason. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. This website is neither an offer to sell nor a solicitation of an offer to buy securities. 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 BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. What's the most common types of sub-organization? This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. ", "It has been Crescents human capital that has been most valuable to us. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Diversification will not guarantee profitability or protection against loss. Jason Breaux: Thanks, Gerhard. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. We attributed the bulk of the quarters NAV decline to widening credit spreads. But I would say overall, we are pleased with the underlying performance of the portfolio. 2023 Crescent Capital Investments 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. Thank you, operator. We have just sent you an email so you can verify your account. 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. Crescent Capital is a Belfast based venture capital fund manager. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Please also note that past performance or market information is not a guarantee of future results. 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. I mean, whats the how are things actually trending right now? Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. As of year-end, this GAAP expense accrual has been fully reversed. Henry Chung: Thanks, Jason. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. Net realized losses were less than $0.05 per share. Don't have an account? For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 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. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. Please check your spam or junk folder just in case On a GAAP basis, fourth quarter net investment income per share was $0.52. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 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. 87% in this quarter were raising one or two, so it appears pretty stable. Jason Breaux: Thank you, Dan. 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 a Belfast based venture capital fund manager. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. . We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. bdcir@crescentcap.com. 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. We have raised six funds since 2000 and we are a top quartile manager on global metrics. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? 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. All information contained in this website is qualified by the terms of applicable offering documents. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Crescent Credit. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. Along the way, I believe Biden could become one of the most powerful Presidents in history. 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. Access to our investment and operational team brings unparalleled support to our portfolio companies. Our portfolio at fair value was comprised of the following: Which investors participated in the most funding rounds within this hub? 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. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. All data as of 12/31/2022. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Warren Buffett took 25% of all returns in excess of 6 percent. The first question comes from Robert Dodd of Raymond James. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. How much aggregate funding have these organizations raised over time? I will turn the call back to Jason Breaux for closing remarks. Angel - Uber), Money Raised: Amount of money raised in Funding Round, Total number of investments made by investors in this hub, Announced Date: Date when the Investment is announced, Investor Name: Name of the investor who participated in the Investment, Funding Round: Name of the funding round where the Investment is made, Number of Investors: Total number of Investors in a Funding Round, Total number of lead investment firms and individual investors that invested in organizations of this hub, Total number of investment firms and individual investors that invested in organizations of this hub, Organization/Person Name: Name of the Organization or Person, Location: Where the organization is headquartered, Investor Type: This describes the type of investor this organization or person is (e.g. | Please go ahead. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Video: Paul Wappett, CEO Australian Institute of Business. 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. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. ", "Crescent brings a laser light focus on the things that drive value to our business.". 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. We look forward to speaking with you again soon. And then one more, if I can. LP investments in high-growth and distressed companies in the United States and abroad. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. 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. 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. Venture Capital Portfolio Which companies in this hub have the most subsidiaries? Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. Continued strong performance ratings and low nonaccrual levels. 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. 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 . Product Marketing and Business Development Director. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. That means much bigger government. This means the bullish number of . 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. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Jason Breaux: Sure. Get the full list, Youre viewing 5 of 21 co-investor. Active vs. 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. He launched his hedge fund in 1956 with $105,100 in seed capital. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. You must click the activation link in order to complete your subscription. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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). To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. We still like this investment. And we remain well diversified across 18 industries and continue to lend almost exclusively to private equity-backed companies with 98% of our debt portfolio in sponsor-backed companies as of year-end. Average Retirement Savings By Age: Are You Normal? In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. 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 We appreciate your continued interest in CCAP. With that, I will now turn it over to Gerhard. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Wed like to thank all of you for your continued support and time today. 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 . The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. We have a large internal team which helps accelerate a portfolio company management teams decision making. Only logged in subscribers of this site will be able to access the shared article. it's been delivered there. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? For example S&P 500 Index returned 43.4% in 1958. Jason Breaux: Okay. 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Read More I mean how would the how are the operating trends doing? Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . (310) 235-5900 After submitting your request, you will receive an activation email to the requested email address. 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. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. 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. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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. Crescent Capital is a Belfast based venture capital fund manager. Two more credit trends to highlight. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. bdcir@crescentcap.com. Not the case? 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 add value across business development, acquisition and enhancement activities. Our adjusted net investment income per share of $0.49 for the fourth quarter of 2022 compares to $0.42 per share for the prior quarter and $0.43 per share for the fourth quarter of 2021. 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. In addition, a reconciliation of this measure may also be found in our earnings release. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. 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. Another, on your deployments in the quarter, obviously will follow on. 2023 Crescent Capital Group LP. You should only be asked to sign in once. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Something went wrong while submitting the form. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. 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. 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.