Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. With that, I will now turn it over to Gerhard. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. Net realized losses were less than $0.05 per share. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. ", "Our growth strategy was perfectly aligned with Crescents. 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. Shares added by 1.69% iShares Russell 1000. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. ", "It has been Crescents human capital that has been most valuable to us. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. 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. Please turn to Slide 6, where youll see a summary of our results. The total size of the investment portfolio is around USD 400 million which . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. "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. 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. As of year-end, this GAAP expense accrual has been fully reversed. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. This call is being recorded on Thursday, February 23, 2023. For more information about Crescent Capital Group, please visit www.crescentcap.com. 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. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? 2009 Crescent Capital, All Rights Reserved. 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. You should only be asked to sign in once. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". We are an equity partner that brings more than money to the relationship. We believe this is an important distinction to highlight for shareholders in a volatile market environment. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. Crescent Capital is a Belfast based venture capital fund manager. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Crescent Capital Partners General Information. 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. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. The companies continue to grow on the top line and the bottom line. This means the bullish number of . 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. Crescent Capital is a Belfast based venture capital fund manager. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We see several investors trying to strike it rich in options market by risking their entire savings. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. A few more updates before I turn it over to Henry. This website is neither an offer to sell nor a solicitation of an offer to buy securities. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. After submitting your request, you will receive an activation email to the requested email address. You can enter your email below to get our FREE report. Our team have over 30 years experience assisting healthcare businesses accelerate growth. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. 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. You can sign up for additional alert options at any time. 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 Capital is a leading investor across . Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. 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. Jason Breaux: Sure. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. And then one more, if I can. 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. 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. Please also note that past performance or market information is not a guarantee of future results. As a member of the Australian Investment Council, we are bound by a set of member standards including the Australian Investment Council Code of Conduct, as well as responsible investment and valuation guidelines. Sorry, no results has been found matching your query. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. We have a large internal team which helps accelerate a portfolio company management teams decision making. There are no further questions at this time. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. 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. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? 2023 Crescent Capital Group LP. We attributed the bulk of the quarters NAV decline to widening credit spreads. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. You must click the activation link in order to complete your subscription. 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. Privacy Policy InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. What's the investment trend over time for this hub? I.e., is your forward leverage range target changing as a result of proposed acquisition? Get our editors daily picks straight in your inbox! 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. The company has a one-year high of $10.68 and a one . This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. Jason Breaux: Thank you, Dan. You can sign up for additional alert options at any time. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call.

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