All rights reserved. 2023 Crescent Capital Investments Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Warren Buffett has been investing and compounding for at least 65 years. Crescent Capital is a leading investor across . An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. 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. Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! Or was it a more normal course of business add-ons or growth or whatever? ", "Crescents practical and analytical approach enabled management to hit their goals. 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. The Crescent Capital IV Development Fund was launched amid much fanfare 18 months ago to build on the success of forerunner funds, from which some of Northern Ireland's most exciting. We still like this investment. 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. Video: Paul Wappett, CEO Australian Institute of Business. We are proud to have globally leading NPS scores with our executive partners. With that, I will now turn it over to Gerhard. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Crescent Capital BDC, Inc. Reports December 31, 2022 Financial Results Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. This website is neither an offer to sell nor a solicitation of an offer to buy securities. Read More Portfolio See our recent purchases and offers. The Firm believes that these high-yield assets will deliver strong cash-flow focused returns for investors. The weighted average loan-to-value in the portfolio at time of underwriting was approximately 40%, which provides the same margin of safety from both an enterprise value perspective as well as capitalized risk beneath our tranche that is available to support our investments. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. LOS ANGELES, February 28, 2023--(BUSINESS WIRE)--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 Solutions Group. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Two more credit trends to highlight. 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 . Excuse me. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. This serves to drive growth and performance improvement, accelerating value creation for shareholders. 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. Crescent wraps up eighth private credit fund at $8bn | PE Hub 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. Average Retirement Savings By Age: Are You Normal? Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. 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. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Get our editors daily picks straight in your inbox! While we do anticipate further market volatility and the potential for spread widening as the cycle progresses, we feel good about our current portfolio, and we remain very excited about the First Eagle BDC transaction as we further enhance our scale and position. 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. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. How much aggregate funding have these organizations raised over time? As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. What's the most common types of sub-organization? We are a community of like-minded real estate investors who together have a stronger purchasing power to acquire and operate multi-family properties for their potential of hands-free, tax-free passive income. Crescent Point announces 2022 results & reserves | BOE Report 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. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. All information contained in this website is qualified by the terms of applicable offering documents. This was by design as we believe it is prudent to prioritize deleveraging in advance of the First Eagle acquisition. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. Venture Capital Portfolio We did intentionally delever a bit here in Q4 in anticipation of the merger. Crescent Capital Group - Wikipedia Stock Market | FinancialContent Business Page KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. 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. 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. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. I mean, whats the how are things actually trending right now? Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. In addition, a reconciliation of this measure may also be found in our earnings release. Net realized losses were less than $0.05 per share. How Crescent invests Crescent began life in 1991, when managing partners Attanasio and Jean-Marc Chapus established Crescent Capital Corp. 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. For more information about Crescent Capital Group, please visit www.crescentcap.com. 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. Crescent Capital is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. 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. Win whats next. 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. You can enter your email below to get our FREE report. Which investors participated in the most funding rounds within this hub? Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Crescent Capital BDC, Inc. - About - Portfolio This dynamic is evidenced by our internal portfolio ratings at the end of the fourth quarter, largely consistent with prior quarters with 87% of the portfolio rated 1 or 2, our highest rating categories.

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