Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! 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. The total size of the investment portfolio is around USD 400 million which . Please go ahead. Get the full list, Youre viewing 5 of 21 co-investor. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Id now like to turn it over to Henry to discuss our Q4 investment activity. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Offerings across the credit quality spectrum Consistent with Crescents track record of investing through cycles over the past 30-plus years, we believe we have constructed a portfolio that consists of companies that are adequately capitalized to address the current macroeconomic environment and have taken a proactive approach to bolstering liquidity in select situations where it may be warranted. You must click the activation link in order to complete your subscription. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. If you experience any issues with this process, please contact us for further assistance. Jason Breaux: Sure. A couple more worth highlighting. Investors in our funds include both domestic and international pension funds and endowments. 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. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Im going to ask you a question that sort of relates to credit . 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. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. You can get rich by returning 20% per year and compounding that for several years. 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. For more information about Crescent Capital Group, please visit www.crescentcap.com. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. 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. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. . 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 Capital Group - Wikipedia In addition, a reconciliation of this measure may also be found in our earnings release. 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 . Which investors participated in the most funding rounds within this hub? You should only be asked to sign in once. 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. Robert Dodd: Got it. What's the most common final funding type when companies get acquired? 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. We have raised six funds since 2000 and we are a top quartile manager on global metrics. 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. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Networking We provide expertise and exposure to a network of relevant business contacts. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! 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. Register now to read this article and more for free. Crescent wraps up eighth private credit fund at $8bn | PE Hub Video: Matt Courtney, CEO Construction Sciences. 25+ years experience in strategy consulting, investment and business management and public company boards. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. He launched his hedge fund in 1956 with $105,100 in seed capital. With that, I will now turn it over to Gerhard. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Or is that just a timing? 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. 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. Jason Breaux: Thanks, Gerhard. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. Do you expect to be running lower leverage than was the case to present historically? This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. We appreciate your continued interest in CCAP. 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 Our team have over 30 years experience assisting healthcare businesses accelerate growth. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Crescent Capital is unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. And then one more, if I can. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. I will turn the call back to Jason Breaux for closing remarks. After submitting your request, you will receive an activation email to the requested email address. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. 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. 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. 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. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. 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. I.e., is your forward leverage range target changing as a result of proposed acquisition? We provide support for founders and senior management teams to accelerate the achievement of their goals. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Website by GCI. management team, and recent news are also included. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Use of this website is governed by the Terms and Conditions. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Crescent Capital is a Belfast based venture capital fund manager That means much bigger government. Crescent Capital Partners General Information. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. How are IPOs trending over time in this hub? If Warren Buffetts hedge fund didnt generate any outperformance (i.e. 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. Jason Breaux: Thank you, Dan. We have just sent you an email so you can verify your account. The all time high for this statistics is 5. Get the full list, Morningstar Institutional Equity Research. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Our GAAP earnings per share or net increase in net assets resulting from operations for the fourth quarter of 2022 was $0.08, which compares to negative $0.08 per share for the prior quarter. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. 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. These are the top 5 holdings of Crescent Capital Consulting, LLC iShares Core S&P 500 ETF ( IVV) - 140,585 shares, 11.05% of the total portfolio. Operator: Ladies and gentlemen, this does conclude our conference call for today. The first question comes from Robert Dodd of Raymond James. This means the bullish number of . And with that, Id like to turn it back to Jason for closing remarks. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Crescent Capital - Crunchbase Investor Profile & Investments How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. Jason Breaux: Hey Robert, its Jason. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Jason reviewed several metrics related to our portfolio. Home - Crescent Capital Investments Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Jason Breaux: Yes. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. 2023 PitchBook. Crescent Capital is a Belfast based venture capital fund manager. On a GAAP basis, fourth quarter net investment income per share was $0.52. bdcir@crescentcap.com. This video is provided by the Australian Investment Council. Which companies in this hub have the most subsidiaries? The companies continue to grow on the top line and the bottom line. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results 2023 Crescent Capital Group LP. Video: Cameron Johnson, CEO Nucleus Network. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. 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. Now lets shift to capitalization and liquidity. Focus on Seed and Series A. 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%. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. Our portfolio at fair value was comprised of the following: The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Thank you! Robert Dodd: Got it. LP investments in high-growth and distressed companies in the United States and abroad. Diversification will not guarantee profitability or protection against loss. Only logged in subscribers of this site will be able to access the shared article. 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. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Crescent Capital - Investing in the future 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. Get the full list, Youre viewing 10 of 31 exits. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs, Industrial manufacturing round-up; Personal care products; 2023 Women in PE, EQT and PSP team up on Radius acquisition; Charlesbanks Caitlin Riederer talks women in PE, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Fengate Private Equity-backed Inflector snaps up Donalco, Audax-backed Colony acquires New South Construction Supply. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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. Discover more about our company and values. Crescent Capital is a Belfast based venture capital fund manager. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Legal Notice. Do you expect to be running on a combined basis going forward? 2009 Crescent Capital, All Rights Reserved. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Crescent Capital - Investing in the future Win whats next. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. 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. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. 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 . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. And with that, operator, please open the line for questions. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Your submission has been received! Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Thank you again, everyone for your interest and support of CCAP. 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. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch Gross deployment in the fourth quarter was $46 million. 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. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. As a reminder, this call is being recorded for replay purposes. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. If you experience any issues with this process, please contact us for further assistance. Henry Chung: Thanks, Jason. Two more credit trends to highlight. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Crescent Capital BDC, Inc. - About - Portfolio 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. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. There are significant risks that should be considered and reviewed when considering an investment in real estate. 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. (310) 235-5900 I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Crescent Capital Partners is a leading Australian private equity firm. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Can you give us any color around that? ", "Crescent brings a laser light focus on the things that drive value to our business.". 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 obvious, I mean, how you gave the interest coverage based on year-end rates. Thanks for the question. 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. This call is being recorded on Thursday, February 23, 2023. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard | Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. 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 Offers A Buying Opportunity For Dividend Investors Crescent Capital Terms & Conditions Crescent Capital Partners | Private Equity Firm in Sydney Australia 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 . This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. We still like this investment. 2023 Crescent Capital Group LP. Active vs. Please also note that past performance or market information is not a guarantee of future results. 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. Description. Thank you. Product Marketing and Business Development Director.
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