As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. 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. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 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. We provide support for founders and senior management teams to accelerate the achievement of their goals. Operator: Thank you. The total size of the investment portfolio is around USD 400 million which . Which companies in this hub have the most subsidiaries? CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. A link has been emailed to you - check your inbox. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Private Equity Portfolio. 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 . Continued strong performance ratings and low nonaccrual levels. Jason Breaux: Yes. Venture Capital Portfolio. Before we begin, Ill start with some important reminders. 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). While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. 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 turn to Slide 15 where we highlight our recent activity. Net realized losses were less than $0.05 per share. The company has a one-year high of $10.68 and a one . I mean, whats the how are things actually trending right now? 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. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. | Do you expect to be running lower leverage than was the case to present historically? 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 are an equity partner that brings more than money to the relationship. All information contained in this website is qualified by the terms of applicable offering documents. 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. Focus on Seed and Series A. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. The all time high for this statistics is 5. 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. Great. We see several investors trying to strike it rich in options market by risking their entire savings. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. 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. ", "Crescents practical and analytical approach enabled management to hit their goals. Not the case? Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. You must click the activation link in order to complete your subscription. After submitting your request, you will receive an activation email to the requested email address. 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. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Description. 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. Our team have over 30 years experience assisting healthcare businesses accelerate growth. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. All data as of 12/31/2022. 2023 Crescent Capital Group LP. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. And so on a pro forma combined basis, I think were going to end up sort of right in the middle of our target leverage range that we publicly stated as kind of 1.1 to 1.4. You can get rich by returning 20% per year and compounding that for several years. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Legal Notice. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Wed like to thank all of you for your continued support and time today. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. Diversification will not guarantee profitability or protection against loss. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Oops! After submitting your request, you will receive an activation email to the requested email address. 2023 PitchBook. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Do you expect to be running on a combined basis going forward? Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Read More In addition, a reconciliation of this measure may also be found in our earnings release. 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. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Reduced net debt by approximately $850 Operator: Ladies and gentlemen, this does conclude our conference call for today. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. A reconciliation of adjusted net investment income per share to net investment income per share, the most directly comparable GAAP financial measure can be found in the accompanying slide presentation for this call. You talked about, obviously, youve lowered leverage ahead of that acquisition. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. ", "I strongly recommend working in partnership with Crescent Capital. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. 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 . 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Average Retirement Savings By Age: Are You Normal? I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Website by GCI. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Read More Portfolio See our recent purchases and offers. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. To participate please dial (877 . Operator: Thank you. The company assumes no obligation to update any such forward-looking statements. The $46 million in gross deployment compares to approximately $71 million in aggregate exits, sales and repayments in the quarter, inclusively a final $8 million liquidating return of capital from our joint venture, which, as Jason noted, is now fully dissolved. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. It has a well-diversified portfolio and is unique in that it also has international exposure. We initially share this idea in October 2018 and the stock already returned more than 150%. Crescent Capital is a Belfast based venture capital fund manager. . He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. As of year-end, this GAAP expense accrual has been fully reversed. 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. 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. How much aggregate funding have these organizations raised over time? 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%. 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. 25+ years experience in strategy consulting, investment and business management and public company boards. Please also note that past performance or market information is not a guarantee of future results. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. 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. 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. The company believes that adjusted NII per share provides useful information to investors regarding financial performance because its one method the company uses to measure its financial condition and results of operations. Venture Capital Portfolio That means much bigger government. March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. Im going to ask you a question that sort of relates to credit . This has proven to be a competitive advantage, particularly in the current lending environment. Our weighted average portfolio grade of 2.1 was unchanged as compared to the past few quarters, and the percentage of risk rated one and two investments, the highest ratings our portfolio companies can receive accounted for 87% of the portfolio at fair value, down modestly from last quarter. 2023 Crescent Capital Group LP. 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. So, how did Warren Buffett manage to generate high returns and beat the market? The companys actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. management team, and recent news are also included. 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. to generate high returns in the 20% to 30% range. 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.
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