Crescent Point Energy (CPG) Receives a Buy from BMO Capital 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. 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. It has a well-diversified portfolio and is unique in that it also has international exposure. Before we begin, Ill start with some important reminders. Video: Cameron Johnson, CEO Nucleus Network. A couple of reminders as it relates to the transaction. Thank you, operator. As of year-end, consistent with the prior quarter, we had investments in four portfolio companies on nonaccrual status, representing 2.0% and 1.2% of our total debt investments at cost and fair value, respectively. As a reminder, this call is being recorded for replay purposes. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Stock Market | Pittsburgh Post-Gazette That would have been 9.35% in hedge fund fees. Website by GCI. 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 still like this investment. After submitting your request, you will receive an activation email to the requested email address. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. "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. Crescent Capital Offers A Buying Opportunity For Dividend Investors For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. 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. How much aggregate funding have these organizations raised over time? Only logged in subscribers of this site will be able to access the shared article. Home - Crescent Capital Investments 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. Crescent Credit. There are no further questions at this time. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 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. Diversification will not guarantee profitability or protection against loss. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. The good news is, this powerful new force can help you make a lot of money even in a bear market. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. 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. 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 . Guidance The Crescent Capital IV Development Fund was launched amid much fanfare 18 months ago to build on the success of forerunner funds, from which some of Northern Ireland's most exciting. bdcir@crescentcap.com. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Operator: Thank you. 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. ", "Crescents practical and analytical approach enabled management to hit their goals. Operator: Ladies and gentlemen, this does conclude our conference call for today. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Private Equity Portfolio. . Venture Capital Portfolio. 25+ years experience in strategy consulting, investment and business management and public company boards. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Jason Breaux: Thanks, Gerhard. Or is that just a timing? Home - Crescent Capital 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. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results 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. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Jason Breaux: Yes. I believe it will make millions of Americans vastly wealthier. This means the bullish number of . 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. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Crescent Capital Partners General Information. Our Company - Crescent Capital Group Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. He also served as a member of the hedge fund solutions group at The Blackstone Group, L.P., where he focused on business development efforts across the Northeast and Southeast U.S. working with a diverse array of institutional clients. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Please also note that past performance or market information is not a guarantee of future results. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. 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 take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. 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. 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. 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. Or was it a more normal course of business add-ons or growth or whatever? Crescent Capital Group Closes Second Direct Lending Fund at For example S&P 500 Index returned 43.4% in 1958. ", "Our growth strategy was perfectly aligned with Crescents. Crescent Capital Jason Breaux: Hey Robert, its Jason. 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 . Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Crescent Capital Partners | Private Equity Firm in Sydney Australia After that, there are no remaining term maturities until 2026. You must click the activation link in order to complete your subscription. You can see that the weighted average yield of income producing securities at cost increased meaningfully quarter-over-quarter from 9.5% to 10.8% on the heels of the Federal Reserves interest rate hikes and is up 330 basis points year-over-year. ", "Crescent partnered with us and assisted in achieving our growth targets. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. You talked about, obviously, youve lowered leverage ahead of that acquisition. (310) 235-5900
We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. 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. - About - Portfolio The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. We look forward to speaking with you again soon. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. The obvious, I mean, how you gave the interest coverage based on year-end rates. The fund was more than double the size of . Investors in our funds include both domestic and international pension funds and endowments. You can sign up for additional alert options at any time. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Get our editors daily picks straight in your inbox! Description. 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. Private Credit | Sun Life Capital Management 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. Crescent Capital Group 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. Our team have over 30 years experience assisting healthcare businesses accelerate growth. The weighted average loan-to-value in the portfolio at time of underwriting was approximately 40%, which provides the same margin of safety from both an enterprise value perspective as well as capitalized risk beneath our tranche that is available to support our investments. 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. Robert Dodd: Got it. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Terms & Conditions de C.V. (NYSE:VIST) Q4 2022 Earnings Call Transcript, TriMas Corporation (NASDAQ:TRS) Q4 2022 Earnings Call Transcript, Tennant Company (NYSE:TNC) Q4 2022 Earnings Call Transcript. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Please go ahead. Use the PitchBook Platform to explore the full profile. Thank you! Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. 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. | 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. This video is provided by the Australian Investment Council. What's the most common final funding type when companies get acquired? 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. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Click But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Stock Market | FinancialContent Business Page You should only be asked to sign in once. So lets begin. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Which investors participated in the most funding rounds within this hub? Jason reviewed several metrics related to our portfolio. Crescent Capital is a leading investor across . We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 2023 Crescent Capital Investments 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. 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. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Discover more about our company and values. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Use of this website is governed by the Terms and Conditions. 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