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. Crescent Point Energy (CPG) Receives a Buy from BMO Capital A link has been emailed to you - check your inbox. For more information about Crescent. 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. Or is that just a timing? Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. That being said, the broader Crescent private credit platform remained active with over $800 million of capital committed to new portfolio investments during the fourth quarter and over $5.5 . . For more information about Crescent. Crescent Capital Partners | Private Equity Firm in Sydney Australia Henry Chung: Thanks, Jason. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. 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. How are IPOs trending over time in this hub? Click We have a large internal team which helps accelerate a portfolio company management teams decision making. We have raised six funds since 2000 and we are a top quartile manager on global metrics. I believe it will make millions of Americans vastly wealthier. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Im on Slide 19. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . Please turn to Slide 6, where youll see a summary of our results. And on March 7, First Eagle is conducting a special meeting of its stockholders whereby they will be asked to adopt the agreement and plan a merger. 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. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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. ", "I strongly recommend working in partnership with Crescent Capital. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Moving to the right-hand side of the page, youll see that our unitranche first lien investments have continued to become a more prominent percentage of our total portfolio, accounting for 66% of total portfolio fair value at year-end compared to 59% the year prior. 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. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Read More We thank you for your participation and ask that you please disconnect your lines. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential A few more updates before I turn it over to Henry. Gerhard Lombard: Thanks, Henry, and good morning, everyone. The all time high for this statistics is 5. You should only be asked to sign in once. Register now to read this article and more for free. Our Company - Crescent Capital Group We believe this is an important distinction to highlight for shareholders in a volatile market environment. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $10.13 average price target. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. 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. This video is provided by the Australian Investment Council. Please also note that past performance or market information is not a guarantee of future results. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. We look forward to speaking with you again soon. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Access to our investment and operational team brings unparalleled support to our portfolio companies. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds . Website by GCI. 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. Networking We provide expertise and exposure to a network of relevant business contacts. Focus on Seed and Series A. 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. Continued strong performance ratings and low nonaccrual levels. Wed be happy to take your questions, and please understand that we may be limited in some answers due to the ongoing First Eagle transaction. Stock Market | Pittsburgh Post-Gazette $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. 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. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. 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. Or was it a more normal course of business add-ons or growth or whatever? 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. Good morning, everyone, and thank you for joining our earnings call. Crescents track record is successfully managing through multiple economic and market cycles, provides us with significant and relevant experience navigating what could be a challenging environment in 2023 and beyond. He launched his hedge fund in 1956 with $105,100 in seed capital. 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. 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. Read More Our Strategy Learn more about our investing strategy. The fund was more than double the size of . Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. The first question comes from Robert Dodd of Raymond James. The company assumes no obligation to update any such forward-looking statements. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. 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 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. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Thank you. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Please go ahead. 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. You can sign up for additional alert options at any time. Which investors participated in the most funding rounds within this hub? At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. Two more credit trends to highlight. Crescent Capital Partners is a leading Australian private equity firm. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. And with that, operator, please open the line for questions. Thanks for the question. 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. . The company has a one-year high of $10.68 and a one . Do you expect to be running on a combined basis going forward? You can get rich by returning 20% per year and compounding that for several years. LP investments in high-growth and distressed companies in the United States and abroad. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. After submitting your request, you will receive an activation email to the requested email address. 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. Great. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. bdcir@crescentcap.com. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. 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 has launched and fully invested the first energy-focused private equity fund in Turkey. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Please check your spam or junk folder just in case Crescent Point announces 2022 results & reserves | BOE Report You can sign up for additional alert options at any time. Warren Buffett took 25% of all returns in excess of 6 percent. Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. What's the most common types of sub-organization? Passive Investing: Which Real Estate Strategy is Right for You. CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2022. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Our team have over 30 years experience assisting healthcare businesses accelerate growth. Operator: Thank you. Average Retirement Savings By Age: Are You Normal? LOS ANGELES, February 28, 2023--Crescent Capital Group LP, a leading alternative credit investment firm, announced today that Jonathan Harari has joined the company as Global Head of its Investor .

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