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. Video: Cameron Johnson, CEO Nucleus Network. Ill provide some fourth quarter and full year highlights, touch on our current portfolio and positioning and then turn it over to Henry to review our recent activity in more detail. I believe it will make millions of Americans vastly wealthier. Invest NI pulls plug on new VC equity fund amid claims of earlier round We thank you for your participation and ask that you please disconnect your lines. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. 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. Jason Breaux: Thank you, Dan. 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. 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. Weve generated significant investment income in the form of fees, dividends and accelerated amortization of OID from the Alcentra portfolio over close to the last two years having realized 136% of our cost basis with approximately $22 million of unrealized value remaining. Two more credit trends to highlight. Invest Money & Crypto With #Crescent | Crescent Bit Capital It has a well-diversified portfolio and is unique in that it also has international exposure. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. Can you give us any color around that? By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. We look forward to speaking with you again soon. Win whats next. So, how did Warren Buffett manage to generate high returns and beat the market? Read More With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. Use of this website is governed by the Terms and Conditions. 2023 Crescent Capital Group LP. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. 87% in this quarter were raising one or two, so it appears pretty stable. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Thank you! Henry? That would have been 9.35% in hedge fund fees. We generally believe that our private equity partners provide operational and financial support to strengthen their portfolio companies for long-term value creation, which is particularly valuable during periods of heightened volatility, like the one we are investing in today. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Please go ahead. LOS ANGELES, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. ("Crescent BDC" or "Company") (NASDAQ: CCAP) today reported net investment income of $59.7 million, or $1.93 per share, and adjusted net investment income of $53.4 million, or $1.73 per share, for the year ended December 31, 2022. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Back then they werent called hedge funds, they were called partnerships. I.e., is your forward leverage range target changing as a result of proposed acquisition? Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. The all time high for this statistics is 5. Please turn to Slide 6, where youll see a summary of our results. 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. I mean how would the how are the operating trends doing? | Only logged in subscribers of this site will be able to access the shared article. That means much bigger government. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. . 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 you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. Wed like to thank all of you for your continued support and time today. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Thank you, operator. Crescent Capital is a Belfast based venture capital fund manager. We still like this investment. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. For example S&P 500 Index returned 43.4% in 1958. ", "Crescent brings a laser light focus on the things that drive value to our business.". Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Networking We provide expertise and exposure to a network of relevant business contacts. 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. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Video: Melinda McGrath, CEO Australian Clinical Labs. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. After submitting your request, you will receive an activation email to the requested email address. Discover more about our company and values. Crescent Capital - Investing in the future I will turn the call back to Jason Breaux for closing remarks. We have raised six funds since 2000 and we are a top quartile manager on global metrics. 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. A link has been emailed to you - check your inbox. The company believes that adjusted NII per share provides useful information to investors regarding financial performance because its one method the company uses to measure its financial condition and results of operations. Website by GCI. 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 Private Credit | Sun Life Capital Management Before we begin, Ill start with some important reminders. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. The company has a one-year high of $10.68 and a one . Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. And it means its going to be harder than ever to hold onto any money you make. 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. The fund was more than double the size of . With that, Id now like to turn it over to Jason. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Venture Capital Portfolio. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Healthcare is Crescent's largest sector by investment. 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. 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. Privacy Policy Shares added by 1.69% iShares Russell 1000. What's the investment trend over time for this hub? Which investors participated in the most funding rounds within this hub? We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. 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. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. 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 . 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.