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. The total size of the investment portfolio is around USD 400 million which . Do you expect to be running lower leverage than was the case to present historically? This call is being recorded on Thursday, February 23, 2023. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. Which investors participated in the most funding rounds within this hub? The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Please check your spam or junk folder just in case Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Gerhard will then review our financial performance during the fourth quarter. You must click the activation link in order to complete your subscription. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. 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. 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.
Crescent Capital Group Closes Second Direct Lending Fund at Our Company - Crescent Capital Group Two more credit trends to highlight. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. The obvious, I mean, how you gave the interest coverage based on year-end rates. Crescent Capital Partners is a leading Australian private equity firm. From cross portfolio introductions and business development, provision of consulting style support on key projects, through to assisting portfolio companies through major strategic change, the Crescent investment team has a unique blend of high end consulting and operational skill sets to support the investee companies. 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 . But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? 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. LOS ANGELES, February 28, 2023--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 . 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. We initially share this idea in October 2018 and the stock already returned more than 150%. Thank you again, everyone for your interest and support of CCAP.
Venture Capital Portfolio
Invest NI pulls plug on new VC equity fund amid claims of earlier round 2009 Crescent Capital, All Rights Reserved. Our success and reputation have been built on conservatism, ethics, passion, attention to detail, responsibility, and our belief that trust starts and ends with honesty and integrity. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Video: Paul Wappett, CEO Australian Institute of Business. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Click For more information about Crescent.
Crescent Capital Partners | Private Equity Firm in Sydney Australia Video: Melinda McGrath, CEO Australian Clinical Labs. You can get rich by returning 20% per year and compounding that for several years. And with that, operator, please open the line for questions. Warren Buffett has been investing and compounding for at least 65 years. 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. 25+ years experience in strategy consulting, investment and business management and public company boards. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates.
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. We still like this investment. 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. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. 2023 PitchBook. Back then they werent called hedge funds, they were called partnerships. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? A few more updates before I turn it over to Henry. The good news is, this powerful new force can help you make a lot of money even in a bear market.
Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 If you experience any issues with this process, please contact us for further assistance. The companies continue to grow on the top line and the bottom line. We thank you for your participation and ask that you please disconnect your lines. 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. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. This dynamic is evidenced by our internal portfolio ratings at the end of the fourth quarter, largely consistent with prior quarters with 87% of the portfolio rated 1 or 2, our highest rating categories. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Please go ahead. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. 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. (310) 235-5900
Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. The first question comes from Robert Dodd of Raymond James. Don't have an account? ", "Crescent partnered with us and assisted in achieving our growth targets. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. We still like this investment. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Win whats next. 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. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. ", "I strongly recommend working in partnership with Crescent Capital. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Crescent Capital Partners General Information. 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 GAAP earnings per share or net increase in net assets resulting from operations for the fourth quarter of 2022 was $0.08, which compares to negative $0.08 per share for the prior quarter. 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. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. This means the bullish number of . management team, and recent news are also included. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates.
Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Get the full list, Morningstar Institutional Equity Research. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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. Venture Capital Portfolio. Crescents track record is successfully managing through multiple economic and market cycles, provides us with significant and relevant experience navigating what could be a challenging environment in 2023 and beyond. it's been delivered there. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? In addition, a reconciliation of this measure may also be found in our earnings release. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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.
Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 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. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. All data as of 12/31/2022. Video: Matt Courtney, CEO Construction Sciences. Focus on Seed and Series A. 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. 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. Shares added by 1.69% iShares Russell 1000. A couple more worth highlighting. 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.
10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch Thanks for the question. Another, on your deployments in the quarter, obviously will follow on.
Crescent Capital Partners Investor Profile: Portfolio & Exits | PitchBook Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021.
The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation.