Something went wrong while submitting the form. A couple more worth highlighting. 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. We look forward to speaking with you again soon. 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. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. 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. 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. Henry Chung: Thanks, Jason. 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. 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. Jason Breaux: Okay. 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. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. To participate please dial (877 . 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. The first question comes from Robert Dodd of Raymond James. While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. All information contained in this website is qualified by the terms of applicable offering documents. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. The weighted average loan-to-value in the portfolio at time of underwriting was approximately 40%, which provides the same margin of safety from both an enterprise value perspective as well as capitalized risk beneath our tranche that is available to support our investments. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. Get the full list, Youre viewing 10 of 31 exits. 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. bdcir@crescentcap.com. 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). 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. After that, there are no remaining term maturities until 2026. Focus on Seed and Series A. Click here. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. 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. With that, Id now like to turn it over to Jason. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Win whats next. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. ", "Our growth strategy was perfectly aligned with Crescents. Crescent Capital is a Belfast based venture capital fund manager We immerse ourselves in your business Experience With our experience and knowledge we can unlock the full potential of your business. We are an equity partner that brings more than money to the relationship. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? All rights reserved. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments ", "I strongly recommend working in partnership with Crescent Capital. Crescent Capital is a Belfast based venture capital fund manager. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. What's the investment trend over time for this hub? 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. 2009 Crescent Capital, All Rights Reserved. Access to our investment and operational team brings unparalleled support to our portfolio companies. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. I will turn the call back to Jason Breaux for closing remarks. Click With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Sorry, no results has been found matching your query. Now lets shift to capitalization and liquidity. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Good morning, everyone, and thank you for joining our earnings call. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. 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. 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. Jason Breaux: Thank you, Dan. We attributed the bulk of the quarters NAV decline to widening credit spreads. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Average Retirement Savings By Age: Are You Normal? Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. While the higher rate environment is certainly beneficial from an earnings perspective, we are also cognizant of the fact that it is generally correlated with a slower U.S. economy which together can create more stress in the portfolio. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Jason Breaux: Sure. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. Warren Buffett has been investing and compounding for at least 65 years. 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. This call is being recorded on Thursday, February 23, 2023. 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. We initially share this idea in October 2018 and the stock already returned more than 150%. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. And it means its going to be harder than ever to hold onto any money you make. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Excuse me. After submitting your request, you will receive an activation email to the requested email address. Product Marketing and Business Development Director. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. This serves to drive growth and performance improvement, accelerating value creation for shareholders. We still like this investment. 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. Use of this website is governed by the Terms and Conditions. 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. 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. Our focus on unitranche opportunities allows us to offer even greater certainty of execution to our private equity sponsors and enables us to enhance our yield opportunity while remaining at the top of the capital stack. Please turn to Slide 6, where youll see a summary of our results. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. ", "Crescents practical and analytical approach enabled management to hit their goals. Do you expect to be running on a combined basis going forward? You should only be asked to sign in once. . Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. SLC Fixed Income portfolios qualify as sustainable As of December 31, 2022 Key differentiators Experienced teams with deep private credit expertise Our investment teams have specialized in private debt for more than 40 years, offering the necessary skills to navigate a nuanced asset class. Only logged in subscribers of this site will be able to access the shared article. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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. 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. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. For more information about Crescent. Read More Our Strategy Learn more about our investing strategy. Read More Mr. Harari brings more than 15 years of investment experience to Crescent Capital. 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. The all time high for this statistics is 5. For more information about Crescent Capital Group, please visit www.crescentcap.com. We see several investors trying to strike it rich in options market by risking their entire savings. 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. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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.