Operator: Thank you. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Offerings across the credit quality spectrum We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. The good news is, this powerful new force can help you make a lot of money even in a bear market. Video: Melinda McGrath, CEO Australian Clinical Labs. Their primary investment focus is with Northern Ireland based companies operating in the information technology, life sciences, and manufacturing sectors. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. 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. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. 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. He also served as a member of the hedge fund solutions group at The Blackstone Group, L.P., where he focused on business development efforts across the Northeast and Southeast U.S. working with a diverse array of institutional clients. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. For example S&P 500 Index returned 43.4% in 1958. Get the full list, Youre viewing 5 of 21 co-investor. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. 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. I would now like to turn the conference over to Dan McMahon. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. We still like this investment. Crescent Capital is a leading investor across real estate, private equity and venture capital. At December 31, our stockholders equity was $613 million, resulting in net asset value per share of $19.83 as compared to $623 million or $20.16 per share last quarter and $652 million or $21.12 per share at December 31, 2021. Please check your spam or junk folder just in case After submitting your request, you will receive an activation email to the requested email address. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. This website must be read in conjunction with the applicable offering documents or Private Placement Memorandum in order to understand fully all of the implications and risks of investing in real estate and a copy of the offering documents must be available to you in connection with any offering. | There are no further questions at this time. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. 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. 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. (310) 235-5900 So, how did Warren Buffett manage to generate high returns and beat the market? Don't have an account? What's the most common final funding type when companies get acquired? At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with . The companies continue to grow on the top line and the bottom line. Crescent has an active partnership ethos, which is a highly structured and disciplined approach to portfolio management and hands-on value creation. Gross deployment in the fourth quarter was $46 million. Or was it a more normal course of business add-ons or growth or whatever? Diversification will not guarantee profitability or protection against loss. Robert Dodd: Got it. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. How are IPOs trending over time in this hub? Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. This means the bullish number of . At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. 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 brings a laser light focus on the things that drive value to our business.". Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. I mean, whats the how are things actually trending right now? If youre looking for capital and an active partner to accelerate the growth of your business or thinking about exiting by bringing in new investors, please feel free to contact me by phone or email to find out more. 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. Turning back to this quarters earnings. Can you give us any color around that? What's the investment trend over time for this hub? 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. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Private Equity Portfolio. 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. Back then they werent called hedge funds, they were called partnerships. 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 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. Earnings Call TranscriptNASDAQ:CCAPQ4 2022, Despite Joe Bidens age, raging inflation, and his dismal 45% approval level. Crescent has achieved strong success in Financial Services, with expertise in creating value through organic growth, acquisitions and geographical expansion into Asia. You can sign up for additional alert options at any time. 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. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Please turn to Slide 15 where we highlight our recent activity. You can sign up for additional alert options at any time. 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. As of December 31, we managed our debt-to-equity ratio down to 1.08x from 1.11x at September 30. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. 2023 Crescent Capital Group LP. 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. 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. If you experience any issues with this process, please contact us for further assistance. Read More It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. We see several investors trying to strike it rich in options market by risking their entire savings. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. So lets begin. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 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. Jason reviewed several metrics related to our portfolio. Access to our investment and operational team brings unparalleled support to our portfolio companies. Jason Breaux: Okay. Our team have over 30 years experience assisting healthcare businesses accelerate growth. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Real Estate Portfolio Direct and LP investments across various asset types across the United States, including commercial, retail, multi-family, residential, hotel, development, self-storage and RV Parks. Two more credit trends to highlight. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. What's the most common types of sub-organization? 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. Crescent Capital Group LP ("Crescent"), a leading alternative credit investment firm, announced today the successful final close of its eighth private credit solutions fund, Crescent Credit Solutions VIII ("CCS Fund VIII"), raising $8 billion in investable capital, including targeted leverage and separately managed . 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. ", "I strongly recommend working in partnership with Crescent Capital. 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. You should only be asked to sign in once. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital Partners General Information. Not the case? 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. Wed like to thank all of you for your continued support and time today. Before we begin, Ill start with some important reminders. Product Marketing and Business Development Director. With deep in house expertise, we provide the support to accelerate growth creation in our portfolio companies. I.e., is your forward leverage range target changing as a result of proposed acquisition? 87% in this quarter were raising one or two, so it appears pretty stable. Which companies in this hub have the most subsidiaries? S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. The obvious, I mean, how you gave the interest coverage based on year-end rates. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. 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. Jason Breaux: Thanks, Gerhard. We are an equity partner that brings more than money to the relationship. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. Turning to Slide 16. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. 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. You must click the activation link in order to complete your subscription. . Reduced net debt by approximately $850 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. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. Video: Cameron Johnson, CEO Nucleus Network. 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. Gerhard Lombard: Thanks, Henry, and good morning, everyone. 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. This increase was driven primarily by rising base rates and higher spreads. 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. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. All information contained in this website is qualified by the terms of applicable offering documents. And a big driver of that is that the if you look back at the historical left grid balance sheet, theyve historically had a bit higher leverage than us. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. de C.V. (NYSE:VIST) Q4 2022 Earnings Call Transcript, TriMas Corporation (NASDAQ:TRS) Q4 2022 Earnings Call Transcript, Tennant Company (NYSE:TNC) Q4 2022 Earnings Call Transcript. We have a diverse portfolio across healthcare, industrials, financial services, technology, education and consumer brands. . By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. We initially share this idea in October 2018 and the stock already returned more than 150%. Please go ahead. We believe this is an important distinction to highlight for shareholders in a volatile market environment. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Thank you, operator. A link has been emailed to you - check your inbox. This call is being recorded on Thursday, February 23, 2023. A few more updates before I turn it over to Henry. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Or is that just a timing? | Average Retirement Savings By Age: Are You Normal? 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. We look forward to speaking with you again soon. We appreciate your continued interest in CCAP. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Henry? You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Continued strong performance ratings and low nonaccrual levels. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. For more information about Crescent Capital Group, please visit www.crescentcap.com. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. 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. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. Im going to ask you a question that sort of relates to credit . ET. it's been delivered there. 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. management team, and recent news are also included. Register now to read this article and more for free. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. We are proud to have globally leading NPS scores with our executive partners. The company assumes no obligation to update any such forward-looking statements. Use the PitchBook Platform to explore the full profile. Because were invested in a largely first lien and unitranche focused portfolio, having largely rotated out of legacy Alcentra names and our broadly-syndicated bank loan joint venture, we expect to generate a high quality of top line revenue, primarily consisting of recurring scheduled interest income. Every year we ask all of our executives the question Would you recommend working with Crescent to a friend or colleague? Another, on your deployments in the quarter, obviously will follow on. | In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. This website is neither an offer to sell nor a solicitation of an offer to buy securities.

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