In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. We appreciate your continued interest in CCAP. Terms & Conditions ", "Crescent add value across business development, acquisition and enhancement activities. Private Equity Portfolio. Total investment income of $34.6 million for the fourth quarter, the highest quarterly figure weve reported since inception compares to $29 million for the prior quarter, representing an increase of approximately 19%. 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. Please go ahead. To participate please dial (877 . This video is provided by the Australian Investment Council. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments Thanks for the question. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Wed be happy to take your questions, and please understand that we may be limited in some answers due to the ongoing First Eagle transaction. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. Robert Dodd: Got it. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 2023 Crescent Capital Group LP. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Use the PitchBook Platform to explore the full profile. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. Which companies in this hub have the most subsidiaries? As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Video: Paul Wappett, CEO Australian Institute of Business. Or is that just a timing? Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. 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. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. bdcir@crescentcap.com. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. You talked about, obviously, youve lowered leverage ahead of that acquisition. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Operator: Ladies and gentlemen, this does conclude our conference call for today. I mean how would the how are the operating trends doing? ET. You can sign up for additional alert options at any time. Video: Cameron Johnson, CEO Nucleus Network. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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 . Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Discover more about our company and values. The fund was more than double the size of . Sorry, no results has been found matching your query. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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 decline relates primarily to unrealized losses we took to reflect wider credit spreads in the market as volatility within the leveraged finance and equity markets continued during the fourth quarter. ", "I strongly recommend working in partnership with Crescent Capital. Investors in our funds include both domestic and international pension funds and endowments. Crescent Capital BDC, Inc. (NASDAQ: CCAP) is a business development company focused on originating and investingin the debt of private middle market companies principally located in the U.S. 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. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. "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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. 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. Thank you. Please turn to Slide 15 where we highlight our recent activity. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Good morning, everyone, and thank you for joining our earnings call. There are no further questions at this time. Crescent Capital is a Belfast based venture capital fund manager. 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. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Do you expect to be running lower leverage than was the case to present historically? We have consistently been able to deliver significant value-add alongside our management teams. Weve generated significant investment income in the form of fees, dividends and accelerated amortization of OID from the Alcentra portfolio over close to the last two years having realized 136% of our cost basis with approximately $22 million of unrealized value remaining. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. I.e., is your forward leverage range target changing as a result of proposed acquisition? We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. 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. . How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. So lets begin. Only logged in subscribers of this site will be able to access the shared article. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. Active vs. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. For more information about Crescent. The companies continue to grow on the top line and the bottom line. Video: Matt Courtney, CEO Construction Sciences. 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. 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. 2023 Crescent Capital Group LP. As a reminder, this call is being recorded for replay purposes. (310) 235-5900 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. 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. We have raised six funds since 2000 and we are a top quartile manager on global metrics. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. 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. 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. We believe an active engagement model is a leading indicator of strong company performance. 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. Powered by Investor Host, Multi-Family & Commercial Property Investing, Understanding How Real Estate Syndications Work in Practice, The Tax Benefits of Investing in Multifamily Real Estate. Read More Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Healthcare is Crescent's largest sector by investment. 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. 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.
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