crescent capital portfolio

More About us Our Portfolio at a Glance $ 1.3 B Portfolio Size (at Fair Value) 129 Portfolio Companies 90% First Lien Investments Crescent Capital Group is a global alternative investment firm focused on below investment grade credit markets with primary strategies that include funds that invest in leveraged loans, high-yield bonds, mezzanine debt, special situations, and distressed securities. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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 . This increase was driven primarily by rising base rates and higher spreads. 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. We did intentionally delever a bit here in Q4 in anticipation of the merger. The weighted average stated interest rate on our total borrowings was 6.23% as of year-end. Click After submitting your request, you will receive an activation email to the requested email address. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. We are an equity partner that brings more than money to the relationship. Robert Dodd: Hi guys. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. That would have been 9.35% in hedge fund fees. Thank you. CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Jason Breaux: Sure. 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. And on March 7, First Eagle is conducting a special meeting of its stockholders whereby they will be asked to adopt the agreement and plan a merger. 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. | Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. This means the bullish number of . Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. The first question comes from Robert Dodd of Raymond James. Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. We still like this investment. We thank you for your participation and ask that you please disconnect your lines. Don't have an account? An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. . Private Equity Round - Integrity Marketing Group, Gladstone Wealth Partners acquired by Integrity Marketing Group, American Health Plans acquired by Integrity Marketing Group, PHP Agency acquired by Integrity Marketing Group, Compass Group Insurance acquired by Integrity Marketing Group, Richman Insurance Agency acquired by Integrity Marketing Group, Investor, Startup, Company or School that the hub is based on, Total number of organizations associated with this hub, Algorithmic rank assigned to the top 100,000 most active Hubs, Total number of founders of organizations in the hub, Average date the Organization was founded, Percentage of organizations in this hub that have been acquired, Percentage of organizations that have gone public with an IPO, Total number of for-profit companies in this hub, Last Funding Round type of organizations in the hub (e.g. 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. Jason Breaux: Okay. So lets begin. Crescent Capital Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. bdcir@crescentcap.com. Get the full list, Morningstar Institutional Equity Research. 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 just sent you an email so you can verify your account. Mr. Harari added, "Crescent has a multi-decade history of outstanding team continuity and investment focus in both public and private credit. Or was it a more normal course of business add-ons or growth or whatever? 2023 Crescent Capital Group LP. Crescent wraps up eighth private credit fund at $8bn, Investor Relations, Marketing & Communications Forum. As of December 31, 2021, Crescent Capital Group managed approximately $38 billion of privately originated debt investments and marketable securities. Do you expect to be running on a combined basis going forward? Taseko Mines Limited (AMEX:TGB) Q4 2022 Earnings Call Transcript, Smith & Nephew plc (NYSE:SNN) Q4 2022 Earnings Call Transcript. | We still like this investment. 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. 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 . 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. 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. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Our team have over 30 years experience assisting healthcare businesses accelerate growth. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. A couple of reminders as it relates to the transaction. 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. Speaking on todays call will be CCAPs President and Chief Executive Officer; Jason Breaux; Chief Financial Officer, Gerhard Lombard; and Managing Director, Henry Chung. Adjusted net investment income increased 17% to $0.49 per share from $0.42 per share for the quarter ended September 30, 2022. "Crescent were willing to invest initially and on a continued basis to maintain our technologically leadership position. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. We specialize in repositioning well-located assets in emerging markets to protect investor capital and provide high yield returns. We will not be outlining additional details of the transaction on this call today, and we direct any interest investors to the proxy statement that was filed in January. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Jason Breaux: Yes. In total, we closed on five add-on and several revolver and delayed draw fundings with no new portfolio company investments in the quarter. Crescents investment success across education, services and mining technology has helped innovative Australian businesses compete on a global stage. Healthcare is Crescent's largest sector by investment. What's the most common final funding type when companies get acquired? 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 company believes that adjusted NII per share provides useful information to investors regarding financial performance because its one method the company uses to measure its financial condition and results of operations. A few more updates before I turn it over to Henry. This has proven to be a competitive advantage, particularly in the current lending environment. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. We have seen revenue growth outpace EBITDA or cash flow growth, which we would attribute largely to inflationary pressures and higher wages, labor market tightness and the like. All data as of 12/31/2022. For more information about Crescent. 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. Get the full list, Youre viewing 5 of 21 co-investor. In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage.