Video: Melinda McGrath, CEO Australian Clinical Labs. 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. | I would say broadly speaking, we continue to feel good about the health of the overall portfolio. 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. For the year ended December 31, 2022, the Company invested $308.0 million across 20 new portfolio companies, 31 existing portfolio companies and several follow-on revolver and delayed draw fundings. After that, there are no remaining term maturities until 2026. Id now like to turn it over to Henry to discuss our Q4 investment activity. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 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. Crescent Capital BDC, Inc. - Investor Relations Do you expect to be running lower leverage than was the case to present historically? Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Passive Investing: Which Real Estate Strategy is Right for You. 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. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Terms & Conditions We look forward to speaking with you again soon. management team, and recent news are also included. Crescent Capital - Investing in the future Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Product Marketing and Business Development Director. 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. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. 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 . I believe it will make millions of Americans vastly wealthier. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Turning back to this quarters earnings. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. 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. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. For more information about Crescent. 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%. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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. We appreciate your continued interest in CCAP. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. it's been delivered there. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Crescent Capital is a Belfast based venture capital fund manager Crescent Capital Group Announces Hiring of Jonathan Harari as Global With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. Offerings across the credit quality spectrum LP investments in high-growth and distressed companies in the United States and abroad. Thank you again, everyone for your interest and support of CCAP. . 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. Jason Breaux: Thanks, Gerhard. Warren Buffett has been investing and compounding for at least 65 years. So lets begin. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Privacy Policy You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Read More Our Strategy Learn more about our investing strategy. Use the PitchBook Platform to explore the full profile. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. ", "Our growth strategy was perfectly aligned with Crescents. The company has a one-year high of $10.68 and a one . 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. What's the investment trend over time for this hub? So, how did Warren Buffett manage to generate high returns and beat the market? Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. | By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Crescent Capital Group I would now like to turn the conference over to Dan McMahon. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch And it means its going to be harder than ever to hold onto any money you make. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. As you can see on the right-hand side of the slide, we have a low level of debt maturities over the next few years with $150 million maturity related to our 5.95% unsecured notes in July 2023. Stock Market | Pittsburgh Post-Gazette Use of this website is governed by the Terms and Conditions. Jason Breaux: Thank you, Dan. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Gerhard will then review our financial performance during the fourth quarter. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 2009 Crescent Capital, All Rights Reserved. Great. Along the way, I believe Biden could become one of the most powerful Presidents in history. Description. Guidance We provide support for founders and senior management teams to accelerate the achievement of their goals. Can you give us any color around that? AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? This call is being recorded on Thursday, February 23, 2023. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. 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. Please turn to Slide 6, where youll see a summary of our results. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? Crescent Point announces 2022 results & reserves | BOE Report 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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 Sun Life-backed Crescent targets $6bn for two private debt funds ", "Crescent partnered with us and assisted in achieving our growth targets. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Crescent Capital - Crunchbase Investor Profile & Investments To participate please dial (877 . The fund was more than double the size of . Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Crescent Capital Partners is a leading Australian private equity firm. 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. Register now to read this article and more for free. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Our Company - Crescent Capital Group Crescent BDC and Alcentra Capital will be holding a joint conference call to discuss the transaction on Tuesday, August 13, 2019 at 1:15 p.m. PT / 4:15 p.m. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Wed like to thank all of you for your continued support and time today. Please turn to Slide 15 where we highlight our recent activity. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. All information contained in this website is qualified by the terms of applicable offering documents. 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. We thank you for your participation and ask that you please disconnect your lines. 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. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Operator: Ladies and gentlemen, this does conclude our conference call for today. 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. 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. You can sign up for additional alert options at any time. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. 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 . At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. 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 . In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. Home - Crescent Capital The companies continue to grow on the top line and the bottom line. 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. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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. You can enter your email below to get our FREE report. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. ", "I strongly recommend working in partnership with Crescent Capital. Crescent Capital is a Belfast based venture capital fund manager. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Active vs. Before we begin, Ill start with some important reminders. 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. The good news is, this powerful new force can help you make a lot of money even in a bear market. 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. 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 . We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. We see several investors trying to strike it rich in options market by risking their entire savings. 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. Video: Cameron Johnson, CEO Nucleus Network. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. I mean, whats the how are things actually trending right now? Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. . Jason Breaux: Yes. to generate high returns in the 20% to 30% range. ", "Crescents practical and analytical approach enabled management to hit their goals. 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. That means much bigger government. Operator: Thank you. 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. 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. 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. Investing in the future of finance, education, SaaS, logistics, and more. Access to our investment and operational team brings unparalleled support to our portfolio companies. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. You can sign up for additional alert options at any time. bdcir@crescentcap.com. I will turn the call back to Jason Breaux for closing remarks. The company assumes no obligation to update any such forward-looking statements. Operator: Thank you. Crescent Capital - Investing in the future 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. Networking We provide expertise and exposure to a network of relevant business contacts. 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. And a big driver of that is that the if you look back at the historical left grid balance sheet, theyve historically had a bit higher leverage than us. Jason Breaux: Okay. (310) 235-5900 Venture Capital Portfolio. This website is neither an offer to sell nor a solicitation of an offer to buy securities. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. 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. On a GAAP basis, fourth quarter net investment income per share was $0.52. 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. Click here. 87% in this quarter were raising one or two, so it appears pretty stable. Or was it a more normal course of business add-ons or growth or whatever? Which investors participated in the most funding rounds within this hub? 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.
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