", "Crescent brings a laser light focus on the things that drive value to our business.". As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Read More Our Strategy Learn more about our investing strategy. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Gross deployment in the fourth quarter was $46 million. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. 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. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs, Industrial manufacturing round-up; Personal care products; 2023 Women in PE, EQT and PSP team up on Radius acquisition; Charlesbanks Caitlin Riederer talks women in PE, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Fengate Private Equity-backed Inflector snaps up Donalco, Audax-backed Colony acquires New South Construction Supply. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. . Investors in our funds include both domestic and international pension funds and endowments. And with that, Id like to turn it back to Jason for closing remarks. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 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. 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. 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. That means much bigger government. Crescent Capital is a Belfast based venture capital fund manager. Get our editors daily picks straight in your inbox! 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. The obvious, I mean, how you gave the interest coverage based on year-end rates. Please turn to Slide 6, where youll see a summary of our results. 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 remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. 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. We are proud to have globally leading NPS scores with our executive partners. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Can you give us any color around that? ", "Crescent partnered with us and assisted in achieving our growth targets. Video: Cameron Johnson, CEO Nucleus Network. | Discover more about our company and values. Only logged in subscribers of this site will be able to access the shared article. On a GAAP basis, fourth quarter net investment income per share was $0.52. We thank you for your participation and ask that you please disconnect your lines. This website is neither an offer to sell nor a solicitation of an offer to buy securities. Thank you. 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. 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. Venture Capital Portfolio. Do you expect to be running on a combined basis going forward? Website by GCI. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Private Equity Portfolio. You talked about, obviously, youve lowered leverage ahead of that acquisition. 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. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. bdcir@crescentcap.com. Net realized losses were less than $0.05 per share. 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. 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. 2023 Crescent Capital Investments Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? You must click the activation link in order to complete your subscription. . Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. 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. 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. Get the full list, Youre viewing 10 of 31 exits. I would now like to turn the conference over to Dan McMahon. 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. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. 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. 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 note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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 foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. To participate please dial (877 . Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. All data as of 12/31/2022. I.e., is your forward leverage range target changing as a result of proposed acquisition? We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. 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. 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. Please check your spam or junk folder just in case Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. As a reminder, this call is being recorded for replay purposes. 87% in this quarter were raising one or two, so it appears pretty stable. 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. If you experience any issues with this process, please contact us for further assistance. 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. Jason Breaux: Sure. Crescent Credit. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Jason Breaux: Okay. Gerhard will then review our financial performance during the fourth quarter. Excuse me. 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. Video: Melinda McGrath, CEO Australian Clinical Labs. Im on Slide 19. As of year-end, this GAAP expense accrual has been fully reversed. Or was it a more normal course of business add-ons or growth or whatever? 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. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. Click The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Crescent Capital is a leading investor across real estate, private equity and venture capital. 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.