You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Your submission has been received! One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. As of year-end, consistent with the prior quarter, we had investments in four portfolio companies on nonaccrual status, representing 2.0% and 1.2% of our total debt investments at cost and fair value, respectively. Im on Slide 19. 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. After that, there are no remaining term maturities until 2026. 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. Access to our investment and operational team brings unparalleled support to our portfolio companies. 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. Please also note that past performance or market information is not a guarantee of future results. Warren Buffett took 25% of all returns in excess of 6 percent. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. I mean, whats the how are things actually trending right now? This website is neither an offer to sell nor a solicitation of an offer to buy securities. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Crescent Capital BDC, Inc. - Investor Relations 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 won the M&A Acquisition Finance Deal of the Year 2016 Award in Turkey, which represents the longest tenor fully non-recourse senior debt financing in Turkish renewables together with the first sharia-compliant mezzanine facility in the sector. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. 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 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. 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 Point Energy (CPG) Receives a Buy from BMO Capital With that, Id now like to turn it over to Jason. Not the case? S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. Jason Breaux: Hey Robert, its Jason. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. 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. 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. For the year ended December 31, 2022, the Company invested $308.0 million across 20 new portfolio companies, 31 existing portfolio companies and several follow-on revolver and delayed draw fundings. 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. Crescent Capital Group Closes Second Direct Lending Fund at He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. 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. 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 . I will turn the call back to Jason Breaux for closing remarks. Id now like to turn it over to Henry to discuss our Q4 investment activity. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. 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). In addition, a reconciliation of this measure may also be found in our earnings release. 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. (310) 235-5900 Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. And then one more, if I can. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. You should only be asked to sign in once. Get the full list, Youre viewing 4 of 6 team members. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. 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. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. And it means its going to be harder than ever to hold onto any money you make. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. Venture Capital Portfolio We believe an active engagement model is a leading indicator of strong company performance. If you experience any issues with this process, please contact us for further assistance. Wed like to thank all of you for your continued support and time today. Jason Breaux: Thanks, Gerhard. 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. Jason Breaux: Okay. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. 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. 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. You must click the activation link in order to complete your subscription. The companys actual results could differ materially from those expressed in such forward-looking statements for any reason, including those listed in its SEC filings. Crescent Capital - Investing in the future Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook How much aggregate funding have these organizations raised over time? 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%. 2009 Crescent Capital, All Rights Reserved. Robert Dodd: Got it. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Can you give us any color around that? The fund was more than double the size of . As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Thank you again, everyone for your interest and support of CCAP. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Good morning, everyone, and thank you for joining our earnings call. Only logged in subscribers of this site will be able to access the shared article. ", "Our growth strategy was perfectly aligned with Crescents. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. Crescent Capital Group 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. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. Crescent Capital is a leading investor across real estate, private equity and venture capital. Crescent Capital is a Belfast based venture capital fund manager. We will not be outlining additional details of the transaction on this call today, and we direct any interest investors to the proxy statement that was filed in January. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Video: Melinda McGrath, CEO Australian Clinical Labs. Crescent Capital Group Announces Hiring of Jonathan Harari as Global 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. 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. To participate please dial (877 . Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. | What's the most common final funding type when companies get acquired? 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. A few more updates before I turn it over to Henry. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Do you expect to be running lower leverage than was the case to present historically? 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. ", "Crescent add value across business development, acquisition and enhancement activities. (310) 235-5900 This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Another, on your deployments in the quarter, obviously will follow on. You can get rich by returning 20% per year and compounding that for several years. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. ", "It has been Crescents human capital that has been most valuable to us. All information contained in this website is qualified by the terms of applicable offering documents. Thank you! Crescent Capital Group - Wikipedia