As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. You talked about, obviously, youve lowered leverage ahead of that acquisition. Crescent Capital BDC, Inc. - About - Portfolio Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. 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 This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. ", "Crescent brings a laser light focus on the things that drive value to our business.". This means the bullish number of . Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Please also note that past performance or market information is not a guarantee of future results. 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. Now lets shift to capitalization and liquidity. 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. Robert Dodd: Got it. Finally, for the first quarter of 2023, our Board declared a $0.41 per share quarterly cash dividend, which will be paid on April 17, 2023, to stockholders of record as of March 31, 2023. Thanks for the question. "Jonathan brings a wealth of investor relations experience to Crescent, and we are excited for his leadership as we seek to grow our client relationships and respond to the increasing demand for our alternative credit offerings," said Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. For more information about Crescent Capital Group, please visit www.crescentcap.com. 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. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Or was it a more normal course of business add-ons or growth or whatever? Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. This video is provided by the Australian Investment Council. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. Can you give us any color around that? to generate high returns in the 20% to 30% range. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. 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 . 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. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. A couple of reminders as it relates to the transaction. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. You must click the activation link in order to complete your subscription. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. Home - Crescent Capital Investments Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Private Credit | Sun Life Capital Management Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! Crescent Capital is a Belfast based venture capital fund manager. Product Marketing and Business Development Director. But I would say overall, we are pleased with the underlying performance of the portfolio. 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. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call 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. After submitting your request, you will receive an activation email to the requested email address. Don't have an account? As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. We attributed the bulk of the quarters NAV decline to widening credit spreads. Im on Slide 19. Guidance | List of top Crescent Capital Portfolio Companies - CrunchBase Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Crescent Capital Group Announces Hiring of Jonathan Harari as Global 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. I believe it will make millions of Americans vastly wealthier. 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. bdcir@crescentcap.com. As of December 31, 99% of our debt investments at fair value were floating rate with a weighted average floor of 80 basis points, which compares to our 72% floating rate liability structure based on debt drawn with no floors. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential This is basically a recipe to generate better returns than Warren Buffett is achieving himself. You can enter your email below to get our FREE report. Good morning, everyone, and thank you for joining our earnings call. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 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. Gerhard Lombard: Thanks, Henry, and good morning, everyone. bdcir@crescentcap.com. Jason Breaux: Thank you, Dan. Please turn to Slide 15 where we highlight our recent activity. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Video: Matt Courtney, CEO Construction Sciences. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. A link has been emailed to you - check your inbox. Crescent Capital - Investing in the future 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. Diversification will not guarantee profitability or protection against loss. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Privacy Policy Yesterday, after the market closed, the company issued its earnings press release for the fourth quarter and year ended December 31, 2022, and posted a presentation to the IR Section of its website at www.crescentbdc.com. 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. Jason Breaux: Thanks, Gerhard. Warren Buffett took 25% of all returns in excess of 6 percent. Use of this website is governed by the Terms and Conditions. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. Crescent Capital Group Closes Second Direct Lending Fund at Reduced net debt by approximately $850 Please check your spam or junk folder just in case 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. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. There are no further questions at this time. Before we begin, Ill start with some important reminders. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation . 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. Get the full list, Morningstar Institutional Equity Research. Crescent Capital BDC, Inc. - Investor Relations The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. I mean how would the how are the operating trends doing? Shares added by 1.69% iShares Russell 1000. 2023 Crescent Capital Group LP. 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. 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. Excuse me. The total size of the investment portfolio is around USD 400 million which . Invest NI pulls plug on new VC equity fund amid claims of earlier round Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? Crescent Capital is a leading investor across . Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? This has proven to be a competitive advantage, particularly in the current lending environment. Turning back to this quarters earnings. 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. 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 .