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. Warren Buffett took 25% of all returns in excess of 6 percent. You talked about, obviously, youve lowered leverage ahead of that acquisition. To reiterate Henrys comments, we prioritize delevering during Q4 in advance of the close of the First Eagle acquisition. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. The company assumes no obligation to update any such forward-looking statements. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. SLC Fixed Income portfolios qualify as sustainable As of December 31, 2022 Key differentiators Experienced teams with deep private credit expertise Our investment teams have specialized in private debt for more than 40 years, offering the necessary skills to navigate a nuanced asset class. 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. The total size of the investment portfolio is around USD 400 million which . There are no further questions at this time. Turning to Slide 16. 2023 Crescent Capital Group LP. After that, there are no remaining term maturities until 2026. As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. 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. Privacy Policy Im on Slide 19. Crescent is the most active Private Equity investor in industrial companies in Australia, having invested in 11 industrial businesses over the last 4 funds. Excuse me. We still like this investment. Gerhard will then review our financial performance during the fourth quarter. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. And it means its going to be harder than ever to hold onto any money you make. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. I believe it will make millions of Americans vastly wealthier. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. it's been delivered there. For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Total investment income again reached its highest level since inception and recurring yield related investment income continues to grow in both absolute dollars and as a percentage of our total revenue, which Gerhard will provide more color on. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. (310) 235-5900 PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. This website is neither an offer to sell nor a solicitation of an offer to buy securities. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. The company has a one-year high of $10.68 and a one . What's the most common types of sub-organization? Crescent Capital is a Belfast based venture capital fund manager. 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. 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. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. 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. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. 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. Henry Chung: Thanks, Jason. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Register now to read this article and more for free. 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. More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. ", "Crescents practical and analytical approach enabled management to hit their goals. 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. Our adjusted net investment income per share of $0.49 for the fourth quarter of 2022 compares to $0.42 per share for the prior quarter and $0.43 per share for the fourth quarter of 2021. You must click the activation link in order to complete your subscription. That means much bigger government. The good news is, this powerful new force can help you make a lot of money even in a bear market. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. 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. Which companies in this hub have the most subsidiaries? There are significant risks that should be considered and reviewed when considering an investment in real estate. 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. 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. Average Retirement Savings By Age: Are You Normal? You must click the activation link in order to complete your subscription. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Home - Crescent Capital Investments Earn Accelerated Returns Through Multi-Family Real Estate About Us Discover more about our company and values. Crescent Capital is a Belfast based venture capital fund manager We immerse ourselves in your business Experience With our experience and knowledge we can unlock the full potential of your business. 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. 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. 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. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. A link has been emailed to you - check your inbox. Not the case? Please go ahead. Investors in our funds include both domestic and international pension funds and endowments. What's the investment trend over time for this hub? Video: Cameron Johnson, CEO Nucleus Network. Now lets shift to capitalization and liquidity. 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. We have raised six funds since 2000 and we are a top quartile manager on global metrics. While the higher rate environment is certainly beneficial from an earnings perspective, we are also cognizant of the fact that it is generally correlated with a slower U.S. economy which together can create more stress in the portfolio. 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. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Venture Capital Portfolio Don't have an account? 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. With that, Id now like to turn it over to Jason. 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. That year Buffetts hedge fund returned 10.4% and Buffett took only 1.1 percentage points of that as fees. Guidance Were any of the follow-on was any of the follow-on capital to the portfolio companies to pad out liquidity? Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. 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. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. Additionally, the strength of our portfolio continues to benefit from the substantial amount of equity invested in our companies. Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. Get the full list, Morningstar Institutional Equity Research. Great. Crescent Capital BDC, Inc. (NASDAQ: CCAP) was in 6 hedge funds' portfolios at the end of the third quarter of 2020. 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. Operator: Thank you. Thank you. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. Get our editors daily picks straight in your inbox! 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. The all time high for this statistics is 5. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Get the full list, Youre viewing 10 of 31 exits. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Our portfolio at fair value was comprised of the following: Thank you, operator. We are proud to have globally leading NPS scores with our executive partners. 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. 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. Use of this website is governed by the Terms and Conditions. | We believe an active engagement model is a leading indicator of strong company performance. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. We look forward to speaking with you again soon. I mean, whats the how are things actually trending right now? Sorry, no results has been found matching your query. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Gross deployment in the fourth quarter was $46 million. During this conference call, we may discuss certain non-GAAP measures as defined by SEC Regulation G, such as adjusted net investment income or NII per share. Jason Breaux: Yes. Read More Our Strategy Learn more about our investing strategy. Networking We provide expertise and exposure to a network of relevant business contacts. Im going to ask you a question that sort of relates to credit . Discover more about our company and values. The companies continue to grow on the top line and the bottom line. Shares added by 1.69% iShares Russell 1000. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. On a GAAP basis, fourth quarter net investment income per share was $0.52. If you experience any issues with this process, please contact us for further assistance. Crescent Capital is a Belfast based venture capital fund manager. 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.