That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Angel - Uber), Money Raised: Amount of money raised in Funding Round, Total number of investments made by investors in this hub, Announced Date: Date when the Investment is announced, Investor Name: Name of the investor who participated in the Investment, Funding Round: Name of the funding round where the Investment is made, Number of Investors: Total number of Investors in a Funding Round, Total number of lead investment firms and individual investors that invested in organizations of this hub, Total number of investment firms and individual investors that invested in organizations of this hub, Organization/Person Name: Name of the Organization or Person, Location: Where the organization is headquartered, Investor Type: This describes the type of investor this organization or person is (e.g. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. Click You can get rich by returning 20% per year and compounding that for several years. 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 total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. The first question comes from Robert Dodd of Raymond James. 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 believe an active engagement model is a leading indicator of strong company performance. And with that, operator, please open the line for questions. 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. Good morning, everyone, and thank you for joining our earnings call. A link has been emailed to you - check your inbox. As a reminder, this call is being recorded for replay purposes. Healthcare is Crescent's largest sector by investment. The obvious, I mean, how you gave the interest coverage based on year-end rates. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. InterContinental Hotels Group PLC (NYSE:IHG) Q4 2022 Earnings Call Transcript Vista Energy, S.A.B. Get our editors daily picks straight in your inbox! We look forward to speaking with you again soon. Our portfolio at fair value was comprised of the following: 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. We provide support for founders and senior management teams to accelerate the achievement of their goals. 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. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Which investors participated in the most funding rounds within this hub? For more information about Crescent. Venture Capital Portfolio. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Thank you again, everyone for your interest and support of CCAP. Crescents investment activities are managed by dedicated teams focused on each of these asset classes. Read More Portfolio See our recent purchases and offers. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Transcript February 23, 2023. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. Please also note that past performance or market information is not a guarantee of future results. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. to generate high returns in the 20% to 30% range. Video: Melinda McGrath, CEO Australian Clinical Labs. We attributed the bulk of the quarters NAV decline to widening credit spreads. This means the bullish number of . After submitting your request, you will receive an activation email to the requested email address. You can see that the weighted average yield of income producing securities at cost increased meaningfully quarter-over-quarter from 9.5% to 10.8% on the heels of the Federal Reserves interest rate hikes and is up 330 basis points year-over-year. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments 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. Our net asset value per share ended the year at $19.83, down 1.6% as compared to the prior quarter. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. 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 . 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. This has proven to be a competitive advantage, particularly in the current lending environment. The good news is, this powerful new force can help you make a lot of money even in a bear market. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? Don't have an account? 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. 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. We have just sent you an email so you can verify your account. Reduced net debt by approximately $850 Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. You can sign up for additional alert options at any time. Crescent Capital is a Belfast based venture capital fund manager. Sorry, no results has been found matching your query. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. I believe it will make millions of Americans vastly wealthier. ET. A couple more worth highlighting. An investor who invested $10,000 in Warren Buffetts hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made more than $36,000 in fees from this investor). The total size of the investment portfolio is around USD 400 million which . Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. management team, and recent news are also included. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. Wed like to thank all of you for your continued support and time today. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. I will turn the call back to Jason Breaux for closing remarks. 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. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Gross deployment in the fourth quarter was $46 million. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Read More Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. 2023 Crescent Capital Investments And with that, Id like to turn it back to Jason for closing remarks. 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. Turning back to this quarters earnings. Click here. 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. Please turn to Slide 6, where youll see a summary of our results. Do you expect to be running lower leverage than was the case to present historically? He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. 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.
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