crescent capital portfolio

Passive Investing: Which Real Estate Strategy is Right for You. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. There are no further questions at this time. Please go ahead. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. As of year-end, this GAAP expense accrual has been fully reversed. 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. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Or was it a more normal course of business add-ons or growth or whatever? As a reminder, this call is being recorded for replay purposes. 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. In our view, our long-term track record of strong credit performance and NAV stability since inception demonstrates the merits of our proven investment process as we work to deliver attractive results to our shareholders. The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. 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. What's the most common types of sub-organization? Investing in the future of finance, education, SaaS, logistics, and more. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. 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. A few more updates before I turn it over to Henry. 25+ years experience in strategy consulting, investment and business management and public company boards. Id now like to turn it over to Henry to discuss our Q4 investment activity. Video: Matt Courtney, CEO Construction Sciences. Crescent Credit. 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? In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. 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. Get the full list, Youre viewing 5 of 21 co-investor. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. ", "Crescents practical and analytical approach enabled management to hit their goals. Something went wrong while submitting the form. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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 . 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. Sorry, no results has been found matching your query. A link has been emailed to you - check your inbox. Excuse me. 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. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. 2009 Crescent Capital, All Rights Reserved. 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. 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. 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. UAE-Based Edtech Startup Ostaz Is On A Mission To Become A One-Stop-Shop For Education, AirAsias Tony Fernandes Refocuses Back on a Superapp Just for Travel, Malaysia Healthcare Partners with AirAsia, Air India Express, AirAsia begin merger drill, MiL.k launched its first global point exchange service with airasia, Datactics Jamie Gordon on Big Financial Institutions and their Messy Datasets. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. I mean, whats the how are things actually trending right now? In a free sample issue of our monthly newsletter we analyzed Warren Buffetts stock picks covering the 1999-2017 period and identified the best performing stocks in Warren Buffetts portfolio. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. bdcir@crescentcap.com. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. Henry? 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. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Crescent Capital is a leading investor across . I believe it will make millions of Americans vastly wealthier. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. If you experience any issues with this process, please contact us for further assistance. 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. Continued strong performance ratings and low nonaccrual levels. 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. 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 . Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. The obvious, I mean, how you gave the interest coverage based on year-end rates. And on March 7, First Eagle is conducting a special meeting of its stockholders whereby they will be asked to adopt the agreement and plan a merger. Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. Diversification will not guarantee profitability or protection against loss. With that, Id now like to turn it over to Jason. We attributed the bulk of the quarters NAV decline to widening credit spreads. Video: Cameron Johnson, CEO Nucleus Network. Thank you. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Two more credit trends to highlight. This call is being recorded on Thursday, February 23, 2023. 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. Shares added by 1.69% iShares Russell 1000. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. He launched his hedge fund in 1956 with $105,100 in seed capital. ", "Our growth strategy was perfectly aligned with Crescents. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Discover more about our company and values. This means the bullish number of . Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. 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. 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. 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. We initially share this idea in October 2018 and the stock already returned more than 150%. Our portfolio at fair value was comprised of the following: 87% in this quarter were raising one or two, so it appears pretty stable. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. Terms & Conditions Use the PitchBook Platform to explore the full profile. 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. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. 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. Or is that just a timing? Get the full list, Youre viewing 4 of 6 team members. 2023 Crescent Capital Group LP. Private Equity Round - Integrity Marketing Group, Gladstone Wealth Partners acquired by Integrity Marketing Group, American Health Plans acquired by Integrity Marketing Group, PHP Agency acquired by Integrity Marketing Group, Compass Group Insurance acquired by Integrity Marketing Group, Richman Insurance Agency acquired by Integrity Marketing Group, Investor, Startup, Company or School that the hub is based on, Total number of organizations associated with this hub, Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of founders of organizations in the hub, Average date the Organization was founded, Percentage of organizations in this hub that have been acquired, Percentage of organizations that have gone public with an IPO, Total number of for-profit companies in this hub, Last Funding Round type of organizations in the hub (e.g. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. I.e., is your forward leverage range target changing as a result of proposed acquisition? ", "Crescent brings a laser light focus on the things that drive value to our business.". 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. Crescent Capital Partners General Information. Jason Breaux: Thanks, Gerhard. 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. Crescent Capital Group is a global alternative investment firm focused on below investment grade credit markets with primary strategies that include funds that invest in leveraged loans, high-yield bonds, mezzanine debt, special situations, and distressed securities. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Legal Notice. ET. 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. 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. What's the most common final funding type when companies get acquired? Jason Breaux: Sure. Turning to Slide 16. 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. This increase was driven primarily by rising base rates and higher spreads. Net realized losses were less than $0.05 per share. 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. We initially share this idea in October 2018 and the stock already returned more than 150%. 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. You must click the activation link in order to complete your subscription. And with that, Id like to turn it back to Jason for closing remarks. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Not the case? Back then they werent called hedge funds, they were called partnerships. Jason Breaux: Thank you, Dan. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. It has a well-diversified portfolio and is unique in that it also has international exposure. We did intentionally delever a bit here in Q4 in anticipation of the merger. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Venture Capital Portfolio. As you can see on the right-hand side of the slide, we have a low level of debt maturities over the next few years with $150 million maturity related to our 5.95% unsecured notes in July 2023. We thank you for your participation and ask that you please disconnect your lines. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. But I would say overall, we are pleased with the underlying performance of the portfolio. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Guidance Private Equity Portfolio. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Robert Dodd: Got it. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Video: Paul Wappett, CEO Australian Institute of Business. 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. Networking We provide expertise and exposure to a network of relevant business contacts. 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. 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. 2023 PitchBook. Good morning, everyone, and thank you for joining our earnings call. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Privacy Policy We still like this investment. A couple more worth highlighting. Because were invested in a largely first lien and unitranche focused portfolio, having largely rotated out of legacy Alcentra names and our broadly-syndicated bank loan joint venture, we expect to generate a high quality of top line revenue, primarily consisting of recurring scheduled interest income. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Operator: Thank you. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Im going to ask you a question that sort of relates to credit . Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Robert Dodd: Hi guys. What's the investment trend over time for this hub? Do you expect to be running on a combined basis going forward? 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. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia.

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