Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. The company assumes no obligation to update any such forward-looking statements. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. Offerings across the credit quality spectrum So lets begin. I will turn the call back to Jason Breaux for closing remarks. This serves to drive growth and performance improvement, accelerating value creation for shareholders. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Passive Investing: Which Real Estate Strategy is Right for You. Robert Dodd: Got it. As far as the deployment in Q4, it was all normal course getting drawn on unfunded and existing commitments that we had to our portfolio companies. We have just sent you an email so you can verify your account. Thank you! 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. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. It is ideal for investors looking for capital security.Open to Asia , Europe , America ,and Africa on Investment / Financial Plan Portfolio Office Customer Support Hours: Monday - Sundays Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. And it means its going to be harder than ever to hold onto any money you make. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. We initially share this idea in October 2018 and the stock already returned more than 150%. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. What's the investment trend over time for this hub? I believe it will make millions of Americans vastly wealthier. 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. 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. management team, and recent news are also included. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Excuse me. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, and private senior, unitranche, and junior debt securities. 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. Gross deployment in the fourth quarter was $46 million. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Shares added by 1.69% iShares Russell 1000. We see several investors trying to strike it rich in options market by risking their entire savings. All information contained in this website is qualified by the terms of applicable offering documents. Great. On a GAAP basis, fourth quarter net investment income per share was $0.52. We are an equity partner that brings more than money to the relationship. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. If you experience any issues with this process, please contact us for further assistance. Networking We provide expertise and exposure to a network of relevant business contacts. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. ", "Crescent brings a laser light focus on the things that drive value to our business.". Im on Slide 19. 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. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. The companies continue to grow on the top line and the bottom line. So, how did Warren Buffett manage to generate high returns and beat the market? We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. We attributed the bulk of the quarters NAV decline to widening credit spreads. What's the most common types of sub-organization? For more information about Crescent. Get the full list, Morningstar Institutional Equity Research. Operator: Thank you. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. 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. Crescent Capital is a leading investor across real estate, private equity and venture capital. Continued strong performance ratings and low nonaccrual levels. Or was it a more normal course of business add-ons or growth or whatever? We have consistently been able to deliver significant value-add alongside our management teams. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. 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. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. I mean, whats the how are things actually trending right now? 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. "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. You must click the activation link in order to complete your subscription. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. bdcir@crescentcap.com. 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. We believe this is an important distinction to highlight for shareholders in a volatile market environment. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. The team brings together complementary backgrounds in structured finance, private equity, law, engineering, and project development, with more than 80 years of direct financing and investment expertise. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Read More Portfolio See our recent purchases and offers. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. You can get rich by returning 20% per year and compounding that for several years. LOS ANGELES, NEW YORK & BOSTON--(BUSINESS WIRE)--Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its second direct lending . 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. We appreciate your continued interest in CCAP. 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. Angel, Fund of Funds, Venture Capital), Median number of investments made by investors in this hub, Median number of lead investments made by investors in this hub, Announced Date: Date the acquisition was announced, Acquirer Name: Name of the acquiring organization, Transaction Name: Auto-generated name of transaction (e.g. 25+ years experience in strategy consulting, investment and business management and public company boards. 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. And then one more, if I can. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. Do you expect to be running on a combined basis going forward? 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. 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%. I.e., is your forward leverage range target changing as a result of proposed acquisition? You can sign up for additional alert options at any time. Importantly, what we consider recurring yield related investment income comprised of interest income, fixed income, amortization and unused fees was up 21% quarter-over-quarter driven by rising base rates.