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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. Crescent Capital is a Belfast based venture capital fund manager The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Description. Net realized losses were less than $0.05 per share. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook Crescent Capital is a leading investor across real estate, private equity and venture capital. 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%. Crescent Capital BDC, Inc. - About - Portfolio 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. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. We appreciate your continued interest in CCAP. All rights reserved. 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 Group Announces Hiring of Jonathan Harari as Global 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. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. The team brings together complementary backgrounds in structured finance, private equity, law, engineering, and project development, with more than 80 years of direct financing and investment expertise. This video is provided by the Australian Investment Council. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. 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. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. 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. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. Offerings across the credit quality spectrum ", "Crescents practical and analytical approach enabled management to hit their goals. Our investment portfolio continues to consist primarily of senior secured first lien and unitranche first lien loans, collectively representing 90% of the portfolio at fair value, up from 89% in the prior quarter. 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. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. 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. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. 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. While the higher rate environment is certainly beneficial from an earnings perspective, we are also cognizant of the fact that it is generally correlated with a slower U.S. economy which together can create more stress in the portfolio. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. After submitting your request, you will receive an activation email to the requested email address. Invest Money & Crypto With #Crescent | Crescent Bit Capital AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? As of year-end, this GAAP expense accrual has been fully reversed. The good news is, this powerful new force can help you make a lot of money even in a bear market. 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. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Use of this website is governed by the Terms and Conditions. Crescent Capital is a Belfast based venture capital fund manager. Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. 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. Before we begin, Ill start with some important reminders. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Focus on Seed and Series A. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. 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. 2023 PitchBook. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. You should only be asked to sign in once. 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. Please go ahead. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Operator: Thank you. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. Crescent Capital is a Belfast based venture capital fund manager. Wed like to thank all of you for your continued support and time today. Read More Investing in the future of finance, education, SaaS, logistics, and more. The all time high for this statistics is 5. A couple more worth highlighting. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Venture Capital Portfolio. 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. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. Do you expect to be running on a combined basis going forward? Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch 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. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. 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. Please turn to Slide 6, where youll see a summary of our results. ", "It has been Crescents human capital that has been most valuable to us. Crescent Capital is a leading investor across . 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. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Henry? Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard We thank you for your participation and ask that you please disconnect your lines. 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. 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. 2023 Crescent Capital Group LP. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. We still like this investment. 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. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Networking We provide expertise and exposure to a network of relevant business contacts. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. 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. For example S&P 500 Index returned 43.4% in 1958. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. We have consistently been able to deliver significant value-add alongside our management teams. 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. Thank you! Active vs. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Thank you. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". We did intentionally delever a bit here in Q4 in anticipation of the merger. Reduced net debt by approximately $850 Crescent Credit. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. Read More Our Strategy Learn more about our investing strategy. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . ET. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Crescent Point announces 2022 results & reserves | BOE Report The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. 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. With that, I will now turn it over to Gerhard. You can get rich by returning 20% per year and compounding that for several years. As a reminder, this call is being recorded for replay purposes. This call is being recorded on Thursday, February 23, 2023. Gross deployment in the fourth quarter was $46 million. Investors in our funds include both domestic and international pension funds and endowments. We are proud to have globally leading NPS scores with our executive partners. Our adjusted net investment income per share of $0.49 for the fourth quarter of 2022 compares to $0.42 per share for the prior quarter and $0.43 per share for the fourth quarter of 2021. management team, and recent news are also included. 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.

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