crescent capital portfolio

Invest NI pulls plug on new VC equity fund amid claims of earlier round But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. Our net investment income outpaced our regular dividend by $0.11 per share, which was offset by net unrealized depreciation on investments of $0.44 per share. LOS ANGELES, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ: CCAP) today reported net investment income of $59.7 million, or $1.93 per share, and adjusted net investment income of $53.4 million, or $1.73 per share, for the year ended December 31, 2022. Get the full list, Morningstar Institutional Equity Research. A couple more worth highlighting. ", "Crescent partnered with us and assisted in achieving our growth targets. Click here. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. And it means its going to be harder than ever to hold onto any money you make. Crescent Capital Partners General Information. Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook This website must be read in conjunction with the applicable offering documents or Private Placement Memorandum in order to understand fully all of the implications and risks of investing in real estate and a copy of the offering documents must be available to you in connection with any offering. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Please go ahead. 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. Don't have an account? For more information about Crescent Capital Group, please visit www.crescentcap.com. 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. Jason Breaux: Thank you, Dan. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Description. Venture Capital Portfolio Crescent Capital Investor Profile: Portfolio & Exits | PitchBook ET. All information contained in this website is qualified by the terms of applicable offering documents. Crescent Capital is a Belfast based venture capital fund manager. 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. I.e., is your forward leverage range target changing as a result of proposed acquisition? Get our editors daily picks straight in your inbox! We did intentionally delever a bit here in Q4 in anticipation of the merger. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . That would have been 9.35% in hedge fund fees. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Crescent Capital is a Belfast based venture capital fund manager Get the full list, Youre viewing 10 of 31 exits. I mean how would the how are the operating trends doing? Only logged in subscribers of this site will be able to access the shared article. Crescent Capital is a Belfast based venture capital fund manager. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Jason Breaux: Sure. Reduced net debt by approximately $850 Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Warren Buffett took 25% of all returns in excess of 6 percent. The all time high for this statistics is 5. 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. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. The good news is, this powerful new force can help you make a lot of money even in a bear market. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. I would now like to turn the conference over to Dan McMahon. I think you said something to the effect of the portfolio companies have adequate liquidity, and in some cases, its been addressed or something like that. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Or is that just a timing? 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. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Good morning, everyone, and thank you for joining our earnings call. Please turn to Slide 15 where we highlight our recent activity. Crescent Capital Partners is a leading Australian private equity firm. | The companies continue to grow on the top line and the bottom line. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Total investment income again reached its highest level since inception and recurring yield related investment income continues to grow in both absolute dollars and as a percentage of our total revenue, which Gerhard will provide more color on. Terms & Conditions Diversification will not guarantee profitability or protection against loss. ", "Crescents practical and analytical approach enabled management to hit their goals. You should only be asked to sign in once. So, how did Warren Buffett manage to generate high returns and beat the market? Active vs. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Privacy Policy If Warren Buffetts hedge fund didnt generate any outperformance (i.e. 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. We thank you for your participation and ask that you please disconnect your lines. 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 . We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 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. 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. 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. Healthcare is Crescent's largest sector by investment. The total size of the investment portfolio is around USD 400 million which . 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 . This call is being recorded on Thursday, February 23, 2023. bdcir@crescentcap.com. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Use of this website is governed by the Terms and Conditions. And then one more, if I can. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. If you experience any issues with this process, please contact us for further assistance. Turning back to this quarters earnings. . How much aggregate funding have these organizations raised over time? Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? 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. Use the PitchBook Platform to explore the full profile. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Investing in the future of finance, education, SaaS, logistics, and more. 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. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments . (310) 235-5900 Id now like to turn it over to Henry to discuss our Q4 investment activity. We are proud to have globally leading NPS scores with our executive partners. Thank you. You can sign up for additional alert options at any time. Click Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. List of top Crescent Capital Portfolio Companies - CrunchBase Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. Sun Life-backed Crescent targets $6bn for two private debt funds In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. 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. 2023 PitchBook. All data as of 12/31/2022. Investors in our funds include both domestic and international pension funds and endowments. Im on Slide 19. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. 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. How are IPOs trending over time in this hub? Invest Money & Crypto With #Crescent | Crescent Bit Capital As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. 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. It has a well-diversified portfolio and is unique in that it also has international exposure. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. That means much bigger government. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. 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 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. Thanks for the question. Our success and reputation have been built on conservatism, ethics, passion, attention to detail, responsibility, and our belief that trust starts and ends with honesty and integrity. 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. Im going to ask you a question that sort of relates to credit . In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Video: Matt Courtney, CEO Construction Sciences. We still like this investment. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Venture Capital Portfolio. Do you expect to be running on a combined basis going forward? Gross deployment in the fourth quarter was $46 million. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Great. 87% in this quarter were raising one or two, so it appears pretty stable. Register now to read this article and more for free. Stock Market | FinancialContent Business Page Your submission has been received! The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. LOS ANGELES, February 28, 2023--(BUSINESS WIRE)--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 Solutions Group. Oops! Henry Chung: Thanks, Jason. A few more updates before I turn it over to Henry. Average Retirement Savings By Age: Are You Normal? Operator: Thank you. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Robert Dodd: Got it. 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. Website by GCI. Excuse me. 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 . The obvious, I mean, how you gave the interest coverage based on year-end rates. As a reminder, this call is being recorded for replay purposes. 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. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. 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 Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Which investors participated in the most funding rounds within this hub? The company assumes no obligation to update any such forward-looking statements. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Get the full list, Youre viewing 5 of 21 co-investor. Operator: Ladies and gentlemen, this does conclude our conference call for today. Jason Breaux: Thanks, Gerhard. "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. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. 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.

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