He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. to generate high returns in the 20% to 30% range. 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. Average Retirement Savings By Age: Are You Normal? We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Sorry, no results has been found matching your query. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. This call is being recorded on Thursday, February 23, 2023. Crescent Capital is a Belfast based venture capital fund manager. 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. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Venture Capital Portfolio. This serves to drive growth and performance improvement, accelerating value creation for shareholders. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. You talked about, obviously, youve lowered leverage ahead of that acquisition. ", "Crescent add value across business development, acquisition and enhancement activities. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Get the full list, Youre viewing 5 of 21 co-investor. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. The fund was more than double the size of . The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. Crescent Capital Partners General Information. On a GAAP basis, fourth quarter net investment income per share was $0.52. ", "Our growth strategy was perfectly aligned with Crescents. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . 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. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 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. 2023 Crescent Capital Investments We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. I mean how would the how are the operating trends doing? We believe this is an important distinction to highlight for shareholders in a volatile market environment. 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 . We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. Turning back to this quarters earnings. 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. 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. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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. Terms & Conditions Use of this website is governed by the Terms and Conditions. Read More Portfolio See our recent purchases and offers. Thanks for the question. Healthcare is Crescent's largest sector by investment. 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. Access to our investment and operational team brings unparalleled support to our portfolio companies. 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. Click here. We still like this investment. 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. | Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? 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. 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. There are significant risks that should be considered and reviewed when considering an investment in real estate. We provide support for founders and senior management teams to accelerate the achievement of their goals. 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. 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. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. . Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. You must click the activation link in order to complete your subscription. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. This website is neither an offer to sell nor a solicitation of an offer to buy securities. | 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. 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. Get the full list, Morningstar Institutional Equity Research. 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. 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. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. 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. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Or was it a more normal course of business add-ons or growth or whatever? 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. The good news is, this powerful new force can help you make a lot of money even in a bear market. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. But I would say overall, we are pleased with the underlying performance of the portfolio. 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 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. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. If you experience any issues with this process, please contact us for further assistance. 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. CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2022. Please also note that past performance or market information is not a guarantee of future results. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 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.
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