As of year-end, this GAAP expense accrual has been fully reversed. Since 1995 Crescent Capital has been supporting and building high-grade venture backed companies in Northern Ireland. 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 BDC, Inc. Reports December 31, 2022 Financial Results We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Crescent Capital BDC, Inc. - Investor Relations Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Warren Buffett has been investing and compounding for at least 65 years. We are an equity partner that brings more than money to the relationship. We still like this investment. Im going to ask you a question that sort of relates to credit . 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Get matched with a tax expert to do your taxes, https://www.businesswire.com/news/home/20230228005594/en/. 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. There are significant risks that should be considered and reviewed when considering an investment in real estate. 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. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. Video: Matt Courtney, CEO Construction Sciences. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. Our weighted average portfolio grade of 2.1 was unchanged as compared to the past few quarters, and the percentage of risk rated one and two investments, the highest ratings our portfolio companies can receive accounted for 87% of the portfolio at fair value, down modestly from last quarter. Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. Or is that just a timing? What's the most common types of sub-organization? We still like this investment. Crescent Capital Partners General Information. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Henry Chung: Thanks, Jason. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising ", "Our growth strategy was perfectly aligned with Crescents. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential We believe that we benefit from years of experience managing below investment grade bank loans and debt securities over multiple economic and market cycles. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. So lets begin. For more information about Crescent. In this report, "we," "us," "our" and "Company" refer to Crescent Capital BDC, Inc. and its consolidated subsidiaries. Great. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. Focus on Seed and Series A. Video: Paul Wappett, CEO Australian Institute of Business. A couple more worth highlighting. Crescent Capital Group - Wikipedia Crescent Capital is an attractively priced BDC trading at a substantial 26% discount to its NAV/share. A few more updates before I turn it over to Henry. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook Please check your spam or junk folder just in case The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Warren Buffett took 25% of all returns in excess of 6 percent. Crescent Capital Group Announces Hiring of Jonathan Harari as Global We initially share this idea in October 2018 and the stock already returned more than 150%. Passive Investing: Which Real Estate Strategy is Right for You. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? The first question comes from Robert Dodd of Raymond James. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. | AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? We believe an active engagement model is a leading indicator of strong company performance. The obvious, I mean, how you gave the interest coverage based on year-end rates. 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. 2023 Crescent Capital Investments The $46 million in gross deployment compares to approximately $71 million in aggregate exits, sales and repayments in the quarter, inclusively a final $8 million liquidating return of capital from our joint venture, which, as Jason noted, is now fully dissolved. The firm seeks to invest in middle-market companies across Australia and New Zealand with a focus on the industrial, financial services, healthcare, consumer brands, technology, and education sectors. For the year ended December 31, 2022, the Company invested $308.0 million across 20 new portfolio companies, 31 existing portfolio companies and several follow-on revolver and delayed draw fundings. Gerhard Lombard: Thanks, Henry, and good morning, everyone. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 LP investments in high-growth and distressed companies in the United States and abroad. Crescent Capital Group Closes Second Direct Lending Fund at 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. We did intentionally delever a bit here in Q4 in anticipation of the merger. to generate high returns in the 20% to 30% range. 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. We have consistently been able to deliver significant value-add alongside our management teams. Healthcare is Crescent's largest sector by investment. Private Equity Portfolio. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Crescent Capital Group LP, a leading alternative credit investment firm, announced today the successful final close of its third direct lending fund, . Please go ahead. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Before we begin, Ill start with some important reminders. Use of this website is governed by the Terms and Conditions. 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. Active vs. Thank you! 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 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. 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. Click Something went wrong while submitting the form. Please turn to Slide 6, where youll see a summary of our results. There are no further questions at this time. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their Leaderboard Founded in 1995, Crescent Capital is a venture capital firm based in Belfast, United Kingdom. How are IPOs trending over time in this hub? 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. For example S&P 500 Index returned 43.4% in 1958. If you experience any issues with this process, please contact us for further assistance. We see several investors trying to strike it rich in options market by risking their entire savings. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. 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. | This has proven to be a competitive advantage, particularly in the current lending environment. This call is being recorded on Thursday, February 23, 2023. Legal Notice. You can sign up for additional alert options at any time. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. A couple of reminders as it relates to the transaction. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. Turning to Slide 16. With that, Id now like to turn it over to Jason. It is for information purposes only and addresses accredited investors; such as wealth managers, family offices, and high-net-worth individuals. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. Mr. Harari brings more than 15 years of investment experience to Crescent Capital. 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. 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. 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 is headquartered in Los Angeles with offices in Boston, London, and New York. Thank you again, everyone for your interest and support of CCAP. Well, its almost entirely because of a surprising July 25th twist that hardly anybodys talking about right now. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. After submitting your request, you will receive an activation email to the requested email address. 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 .
