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. Wed like to thank all of you for your continued support and time today. Thank you! To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Your submission has been received! Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. "Jonathan brings a wealth of investor relations experience to Crescent, and we are excited for his leadership as we seek to grow our client relationships and respond to the increasing demand for our alternative credit offerings," said Jean-Marc Chapus, Managing Partner and Co-Founder of Crescent Capital Group. Sorry, no results has been found matching your query. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. The companies continue to grow on the top line and the bottom line. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. 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. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. 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. Video: Melinda McGrath, CEO Australian Clinical Labs. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. Please check your spam or junk folder just in case 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. Please go ahead. Henry Chung: Thanks, Jason. Great. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. 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. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. We are an equity partner that brings more than money to the relationship. 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. 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. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. 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. This call is being recorded on Thursday, February 23, 2023. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. Thank you, operator. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. ", "Crescent brings a laser light focus on the things that drive value to our business.". Description. This video is provided by the Australian Investment Council. This has proven to be a competitive advantage, particularly in the current lending environment. You must click the activation link in order to complete your subscription. 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. This serves to drive growth and performance improvement, accelerating value creation for shareholders. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. How much aggregate funding have these organizations raised over time? Shares added by 1.69% iShares Russell 1000. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 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 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. Net realized losses were less than $0.05 per share. 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 . In addition, a reconciliation of this measure may also be found in our earnings release. it's been delivered there. A few more updates before I turn it over to Henry. 2009 Crescent Capital, All Rights Reserved. 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 are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Jason Breaux: Thank you, Dan. 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. Im going to ask you a question that sort of relates to credit . Offerings across the credit quality spectrum Click Warren Buffett has been investing and compounding for at least 65 years. Product Marketing and Business Development Director. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. Video: Matt Courtney, CEO Construction Sciences. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Good morning, everyone, and thank you for joining our earnings call. Continued strong performance ratings and low nonaccrual levels. You can see that the weighted average yield of income producing securities at cost increased meaningfully quarter-over-quarter from 9.5% to 10.8% on the heels of the Federal Reserves interest rate hikes and is up 330 basis points year-over-year. 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. This means the bullish number of . You can enter your email below to get our FREE report. There are significant risks that should be considered and reviewed when considering an investment in real estate. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. Register now to read this article and more for free. 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. The all time high for this statistics is 5. Another, on your deployments in the quarter, obviously will follow on. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? . 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. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Jason Breaux: Okay. Something went wrong while submitting the form. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. ET. We have raised six funds since 2000 and we are a top quartile manager on global metrics. | Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. Investing in the future of finance, education, SaaS, logistics, and more. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. We have consistently been able to deliver significant value-add alongside our management teams. Crescent Capital BDC, Inc. (NASDAQ: CCAP) is a business development company focused on originating and investingin the debt of private middle market companies principally located in the U.S. 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. Can you give us any color around that? Get the full list, Youre viewing 5 of 21 co-investor. 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 . View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. We still like this investment. Reduced net debt by approximately $850 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 have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. We initially share this idea in October 2018 and the stock already returned more than 150%. Crescent Capital is a leading investor across . 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. As a reminder, this call is being recorded for replay purposes. . 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? 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. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. What's the most common final funding type when companies get acquired? Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. We see several investors trying to strike it rich in options market by risking their entire savings. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. to generate high returns in the 20% to 30% range. 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. 2023 Crescent Capital Investments Please turn to Slide 6, where youll see a summary of our results. Gerhard will then review our financial performance during the fourth quarter. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. ", "Crescent partnered with us and assisted in achieving our growth targets. . secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . 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. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. Crescent Capital Group is a global alternative investment firm focused on below investment grade credit markets with primary strategies that include funds that invest in leveraged loans, high-yield bonds, mezzanine debt, special situations, and distressed securities. He launched his hedge fund in 1956 with $105,100 in seed capital. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. | The bad news is, this July 25th twist is also likely to make Biden and the progressives more powerful than ever. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. We initially share this idea in October 2018 and the stock already returned more than 150%. Jason Breaux: Yes. That means much bigger government. Crescent Credit. You can sign up for additional alert options at any time. 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. bdcir@crescentcap.com. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 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. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. For example S&P 500 Index returned 43.4% in 1958. We are proud to have globally leading NPS scores with our executive partners. So, how did Warren Buffett manage to generate high returns and beat the market? Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Jason Breaux: Thanks, Gerhard. | Along the way, I believe Biden could become one of the most powerful Presidents in history. 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. 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 . 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Yesterday, after the market closed, the company issued its earnings press release for the fourth quarter and year ended December 31, 2022, and posted a presentation to the IR Section of its website at www.crescentbdc.com. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. With more than 100 investment professionals and over 200 employees, the firm invests at all levels of the capital structure, with a significant focus on below investment grade credit through strategies that invest in senior bank loans, unitranche loans, high yield debt, mezzanine debt, and other private debt securities.
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