An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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 billion for the full year. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Offerings across the credit quality spectrum Read More An offering is made only by the applicable offering documents and only in those jurisdictions where permitted by law. Please turn to Slide 15 where we highlight our recent activity. We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. This serves to drive growth and performance improvement, accelerating value creation for shareholders. Gerhard Lombard: Thanks, Henry, and good morning, everyone. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. Reduced net debt by approximately $850 This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard As far as the deployment in Q4, it was all normal course getting drawn on unfunded and existing commitments that we had to our portfolio companies. If you experience any issues with this process, please contact us for further assistance. 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 . So lets begin. Website by GCI. Passive Investing: Which Real Estate Strategy is Right for You. This has proven to be a competitive advantage, particularly in the current lending environment. 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. The all time high for this statistics is 5. The foundation of our success is the working relationship we have with the business owners and leadership teams we partner with. You can enter your email below to get our FREE report. (310) 235-5900 Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Based in New York, Mr. Harari is responsible for developing and executing Crescents strategic sales and marketing plan for clients and assets, including identifying potential new investors, developing and maintaining client relationships, designing new investment solutions and managing Crescents investor relations and client solutions team. Privacy Policy In addition, a reconciliation of this measure may also be found in our earnings release. | I.e., is your forward leverage range target changing as a result of proposed acquisition? 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 this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Henry Chung: Thanks, Jason. 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. Crescent raised its first fund in 1992 and has consistently been a leader in the private debt market, focusing on senior secured unitranche securities and junior debt. Video: Cameron Johnson, CEO Nucleus Network. Id now like to turn it over to Henry to discuss our Q4 investment activity. 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. 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. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. 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 . Focus on Seed and Series A. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. Along the way, I believe Biden could become one of the most powerful Presidents in history. Get the full list, Morningstar Institutional Equity Research. And with that, operator, please open the line for questions. Do you expect to be running on a combined basis going forward? Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. Crescent Capital Partners General Information. 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 total size of the investment portfolio is around USD 400 million which . 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 . A couple of reminders as it relates to the transaction. Click here. 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. 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 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. There are no further questions at this time. And so on a pro forma combined basis, I think were going to end up sort of right in the middle of our target leverage range that we publicly stated as kind of 1.1 to 1.4. We appreciate your continued interest in CCAP. We attributed the bulk of the quarters NAV decline to widening credit spreads. After submitting your request, you will receive an activation email to the requested email address. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. Jason reviewed several metrics related to our portfolio. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. 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. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Robert Dodd: Got it. Crescent Capital is a Belfast based venture capital fund manager. We look forward to speaking with you again soon. . 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. 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. 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. Use of this website is governed by the Terms and Conditions. This situates us well to benefit from increases in base rates above our average floors as is the case this quarter with continued growth in our interest income line item. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. ", "It has been Crescents human capital that has been most valuable to us. He launched his hedge fund in 1956 with $105,100 in seed capital. It has a well-diversified portfolio and is unique in that it also has international exposure. Importantly, we generated net realized gains for the full year 2022, delivering positive realized gains in excess of our losses. Crescent Credit. We believe an active engagement model is a leading indicator of strong company performance. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. 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. Do you expect to be running lower leverage than was the case to present historically? Not the case? Information on investments, active portfolio, exits, fund performance, dry powder, team and co-investors for Crescent Capital. 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. Wed like to thank all of you for your continued support and time today. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. Crescent Capital is a Belfast based venture capital fund manager. 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. "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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Healthcare is Crescent's largest sector by investment. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Operator: Thank you. Total investment income of $34.6 million for the fourth quarter, the highest quarterly figure weve reported since inception compares to $29 million for the prior quarter, representing an increase of approximately 19%. I mean how would the how are the operating trends doing? "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. 2023 Crescent Capital Group LP. We see several investors trying to strike it rich in options market by risking their entire savings. 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. Actually Warren Buffett failed to beat the S&P 500 Index in 1958, returned only 40.9% and pocketed 8.7 percentage of it as fees. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. 2023 Crescent Capital Group LP. Jason Breaux: Thank you, Dan. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. If Warren Buffetts hedge fund didnt generate any outperformance (i.e. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. it's been delivered there. Read More Portfolio See our recent purchases and offers. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Thank you. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Jason Breaux: Okay. We have raised six funds since 2000 and we are a top quartile manager on global metrics. You can get rich by returning 20% per year and compounding that for several years. Our credit culture focused on preservation of capital has led to a highly diversified portfolio invested largely in the resilient industries. We have a diverse portfolio across healthcare, industrial, financial services, technology, education and consumer brands. 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. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. And then one more, if I can. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. For example S&P 500 Index returned 43.4% in 1958. And with that, Id like to turn it back to Jason for closing remarks.

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