You can get rich by returning 20% per year and compounding that for several years. 2023 Crescent Capital Group LP. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. . Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. A couple of reminders as it relates to the transaction. 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. Henry Chung: Thanks, Jason. 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. 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. We are a community of like-minded real estate investors who together have a stronger purchasing power to acquire and operate multi-family properties for their potential of hands-free, tax-free passive income. Passive Investing: Which Real Estate Strategy is Right for You. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. 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. For example S&P 500 Index returned 43.4% in 1958. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Crescent Bit Capital is a type of secure investment that grows your money at a guaranteed rate based of chosen plan of interest for a fixed period of time. management team, and recent news are also included. Video: Paul Wappett, CEO Australian Institute of Business. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. What's the investment trend over time for this hub? Crescent Capital is a Belfast based venture capital fund manager. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You can sign up for additional alert options at any time. 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 specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Description. 2023 Crescent Capital Investments I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Private Equity Portfolio. This website is neither an offer to sell nor a solicitation of an offer to buy securities. 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. Don't have an account? 25+ years experience in strategy consulting, investment and business management and public company boards. This means the bullish number of . Get our editors daily picks straight in your inbox! The company has a one-year high of $10.68 and a one . Something went wrong while submitting the form. Robert Dodd: Got it. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Use of this website is governed by the Terms and Conditions. Legal Notice. Gerhard Lombard: Thanks, Henry, and good morning, everyone. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Operator: Ladies and gentlemen, this does conclude our conference call for today. Operator: Thank you. 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. 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. 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. 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. I mean, whats the how are things actually trending right now? . Video: Matt Courtney, CEO Construction Sciences. A reconciliation of adjusted net investment income per share to net investment income per share, the most directly comparable GAAP financial measure can be found in the accompanying slide presentation for this call. Focus on Seed and Series A. We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. All rights reserved. The $46 million in gross deployment compares to approximately $71 million in aggregate exits, sales and repayments in the quarter, inclusively a final $8 million liquidating return of capital from our joint venture, which, as Jason noted, is now fully dissolved. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. 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. Crescent Capital is a leading investor across . 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. ", "Crescent brings a laser light focus on the things that drive value to our business.". 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. Privacy Policy 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. 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. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Crescent Capital Group is headquartered in Los Angeles with offices in Boston, London, and New York. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Gross deployment in the fourth quarter was $46 million. Reduced net debt by approximately $850 Jason Breaux: Hey Robert, its Jason. Which investors participated in the most funding rounds within this hub? ", "It has been Crescents human capital that has been most valuable to us. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. If you experience any issues with this process, please contact us for further assistance. Use of this website is governed by the Terms and Conditions. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. bdcir@crescentcap.com. Do you expect to be running lower leverage than was the case to present historically? We have just sent you an email so you can verify your account. 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. ", "Crescent partnered with us and assisted in achieving our growth targets. We initially share this idea in October 2018 and the stock already returned more than 150%. Operator: Thank you. 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. 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. LP investments in high-growth and distressed companies in the United States and abroad. "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. 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. On a GAAP basis, fourth quarter net investment income per share was $0.52. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. I believe it will make millions of Americans vastly wealthier. 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 are proud to have globally leading NPS scores with our executive partners. We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance.