The company's 90% portfolio is performing above expectations, while 89% of its portfolio. (310) 235-5900 Video: Cameron Johnson, CEO Nucleus Network. Crescent Credit. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. ", "Crescent partnered with us and assisted in achieving our growth targets. 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. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Please go ahead. Thanks for the question. The first question comes from Robert Dodd of Raymond James. 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. The firm invests in companies operating in the information technology, life sciences, and manufacturing sectors. And with that, operator, please open the line for questions. bdcir@crescentcap.com. What's the most common types of sub-organization? The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Jason Breaux: Thank you, Dan. Get the full list, Youre viewing 10 of 31 exits. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. That means much bigger government. 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. ", "It has been Crescents human capital that has been most valuable to us. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. This means the bullish number of . Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Heres an airasia flight discount BigPay users can benefit from for 2023, High Airfares Are Here to Stay, AirAsias Fernandes Says. For more information about Crescent Capital Group, please visit www.crescentcap.com. 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. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Not the case? 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. You can sign up for additional alert options at any time. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. How are IPOs trending over time in this hub? You can sign up for additional alert options at any time. Video: Paul Wappett, CEO Australian Institute of Business. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. 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. Active vs. 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 weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. Video: Matt Courtney, CEO Construction Sciences. For more information about Crescent. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. You should only be asked to sign in once. Continued strong performance ratings and low nonaccrual levels. 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. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. It has a well-diversified portfolio and is unique in that it also has international exposure. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. Net realizations of $26 million in the fourth quarter, coupled with unrealized mark-to-market losses on our investments ultimately led to our total investment portfolio, holding roughly steady at approximate fair value of $1.3 billion as of December 31, 2022, down approximately $30 million quarter-over-quarter. This call is being recorded on Thursday, February 23, 2023. Gerhard will then review our financial performance during the fourth quarter. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. Passive Investing: Which Real Estate Strategy is Right for You. | Access to our investment and operational team brings unparalleled support to our portfolio companies. UAE-Based Edtech Startup Ostaz Is On A Mission To Become A One-Stop-Shop For Education, AirAsias Tony Fernandes Refocuses Back on a Superapp Just for Travel, Malaysia Healthcare Partners with AirAsia, Air India Express, AirAsia begin merger drill, MiL.k launched its first global point exchange service with airasia, Datactics Jamie Gordon on Big Financial Institutions and their Messy Datasets. Register now to read this article and more for free. Now lets shift to capitalization and liquidity. During this conference call, we may discuss certain non-GAAP measures as defined by SEC Regulation G, such as adjusted net investment income or NII per share. ", "I strongly recommend working in partnership with Crescent Capital. So, how did Warren Buffett manage to generate high returns and beat the market? Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. Privacy Policy Crescent has won the M&A Acquisition Finance Deal of the Year 2016 Award in Turkey, which represents the longest tenor fully non-recourse senior debt financing in Turkish renewables together with the first sharia-compliant mezzanine facility in the sector. After submitting your request, you will receive an activation email to the requested email address. Thank you. 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. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. Do you expect to be running lower leverage than was the case to present historically? 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. 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. In particular, in the past 10 years Crescent has been the most active private equity manager in healthcare in Australia. You talked about, obviously, youve lowered leverage ahead of that acquisition. This website is neither an offer to sell nor a solicitation of an offer to buy securities. 2023 Crescent Capital Investments To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. Jason reviewed several metrics related to our portfolio. Product Marketing and Business Development Director. Thank you, operator. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. The decline relates primarily to unrealized losses we took to reflect wider credit spreads in the market as volatility within the leveraged finance and equity markets continued during the fourth quarter. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Im going to ask you a question that sort of relates to credit . You can enter your email below to get our FREE report. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Consistent with Crescents track record of investing through cycles over the past 30-plus years, we believe we have constructed a portfolio that consists of companies that are adequately capitalized to address the current macroeconomic environment and have taken a proactive approach to bolstering liquidity in select situations where it may be warranted. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Turning back to this quarters earnings. 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. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. Click We have raised six funds since 2000 and we are a top quartile manager on global metrics. 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. Venture Capital Portfolio. If you experience any issues with this process, please contact us for further assistance. 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. Gross deployment in the fourth quarter was $46 million. March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. After submitting your request, you will receive an activation email to the requested email address. Turning to Slide 16. 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. 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. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . to generate high returns in the 20% to 30% range. Robert Dodd: Hi guys. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Please turn to Slide 6, where youll see a summary of our results. 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. Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Get the full list, Youre viewing 4 of 6 team members. A couple more worth highlighting. Website by GCI. We believe an active engagement model is a leading indicator of strong company performance. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit.