Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Jason Breaux: Sure. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. I will turn the call back to Jason Breaux for closing remarks. 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. Get the full list, Youre viewing 5 of 21 co-investor. We initially share this idea in October 2018 and the stock already returned more than 150%. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. After that, there are no remaining term maturities until 2026. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 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. Net realized losses were less than $0.05 per share. Do you expect to be running on a combined basis going forward? . The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. On a GAAP basis, fourth quarter net investment income per share was $0.52. 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. I.e., is your forward leverage range target changing as a result of proposed acquisition? Register now to read this article and more for free. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. 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 All rights reserved. The all time high for this statistics is 5. 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. (310) 235-5900
And a big driver of that is that the if you look back at the historical left grid balance sheet, theyve historically had a bit higher leverage than us. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. A couple more worth highlighting. Which companies in this hub have the most subsidiaries? And it means its going to be harder than ever to hold onto any money you make. With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. But I would say overall, we are pleased with the underlying performance of the portfolio. Get the full list, Youre viewing 10 of 31 exits. And with that, Id like to turn it back to Jason for closing remarks. Website by GCI. Good morning, everyone, and thank you for joining our earnings call. 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. 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 . We are an equity partner that brings more than money to the relationship. 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. We have seen revenue growth outpace EBITDA or cash flow growth, which we would attribute largely to inflationary pressures and higher wages, labor market tightness and the like. Reduced net debt by approximately $850 ", "I strongly recommend working in partnership with Crescent Capital. 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. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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. This means the bullish number of . We have just sent you an email so you can verify your account. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. You can sign up for additional alert options at any time. An investor who invested $10,000 in Warren Buffetts hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made more than $36,000 in fees from this investor). We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. . Continued strong performance ratings and low nonaccrual levels. Thank you! At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. And two, the exchange ratio for the stock component of the merger consideration and the amount of cash from Crescent BDC will be determined by the respective net asset values of Crescent BDC and First Eagle BDC and customary merger adjustments two days prior to closing. If you experience any issues with this process, please contact us for further assistance. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. We did intentionally delever a bit here in Q4 in anticipation of the merger. Legal Notice. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. 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. Thank you. 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. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. 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. Description. Access to our investment and operational team brings unparalleled support to our portfolio companies. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . What's the investment trend over time for this hub? Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. Venture Capital Portfolio. Gross deployment in the fourth quarter was $46 million. 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. 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. Robert Dodd: Got it. | His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Only logged in subscribers of this site will be able to access the shared article. Crescent Capital is unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. 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. Read More Portfolio See our recent purchases and offers. ", "It has been Crescents human capital that has been most valuable to us. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Active vs. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. 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. 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 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. For more information about Crescent. 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. Jason Breaux: Hey Robert, its Jason. All information contained in this website is qualified by the terms of applicable offering documents. We have raised six funds since 2000 and we are a top quartile manager on global metrics. How are IPOs trending over time in this hub? 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. Henry? Crescent Capital is a Belfast based venture capital fund manager We immerse ourselves in your business Experience With our experience and knowledge we can unlock the full potential of your business. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. This website is neither an offer to sell nor a solicitation of an offer to buy securities. 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. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. 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. Guidance All data as of 12/31/2022. At December 31, our stockholders equity was $613 million, resulting in net asset value per share of $19.83 as compared to $623 million or $20.16 per share last quarter and $652 million or $21.12 per share at December 31, 2021. Jason reviewed several metrics related to our portfolio. LP investments in high-growth and distressed companies in the United States and abroad. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? 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. Video: Matt Courtney, CEO Construction Sciences. Can you give us any color around that? 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. The company has a one-year high of $10.68 and a one . ", "Crescents practical and analytical approach enabled management to hit their goals. 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. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. This serves to drive growth and performance improvement, accelerating value creation for shareholders. What's the most common final funding type when companies get acquired? The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Passive Investing: Which Real Estate Strategy is Right for You. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Read More Our Strategy Learn more about our investing strategy. For more information about Crescent Capital Group, please visit www.crescentcap.com. Use the PitchBook Platform to explore the full profile. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call.