Don't have an account? 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. (310) 235-5900 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. 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. We attributed the bulk of the quarters NAV decline to widening credit spreads. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. 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. Can you give us any color around that? As of December 31, 2022, Crescent Capital Group managed over $40 billion of privately originated debt investments and marketable securities. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Along the way, I believe Biden could become one of the most powerful Presidents in history. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Stock Market | FinancialContent Business Page The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. Turning back to this quarters earnings. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. Importantly, what we consider recurring yield related investment income comprised of interest income, fixed income, amortization and unused fees was up 21% quarter-over-quarter driven by rising base rates. 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. It is ideal for investors looking for capital security.Open to Asia , Europe , America ,and Africa on Investment / Financial Plan Portfolio Office Customer Support Hours: Monday - Sundays We still like this investment. All information contained in this website is qualified by the terms of applicable offering documents. Read More The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. 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. 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. 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. Jason reviewed several metrics related to our portfolio. Crescent Capital - Crunchbase Investor Profile & Investments 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. The good news is, this powerful new force can help you make a lot of money even in a bear market. 11%-Yielding Crescent Capital: Undervalued BDC With Upside Potential 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. The first question comes from Robert Dodd of Raymond James. Use the PitchBook Platform to explore the full profile. Invest Money & Crypto With #Crescent | Crescent Bit Capital Gerhard Lombard: Thanks, Henry, and good morning, everyone. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. That nonrecurring income has now been replaced by recurring yield related income from Crescents originated assets. Founded in 2000, Crescent Capital Partners is a private equity firm based in Sydney, Australia. Crescent Capital Group Announces Hiring of Jonathan Harari as Global Crescent Capital Consulting, LLC Buys iShares TIPS Bond ETF - Yahoo! Crescent Capital BDC, Inc. (NASDAQ:CCAP) Q4 2022 Earnings Call Jason Breaux: Hey Robert, its Jason. Gross deployment in the fourth quarter was $46 million. Excuse me. Crescent Capital focuses on acquiring multi-family real estate in high-growth secondary and tertiary markets throughout the Sun Belt. 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. Powered by Investor Host, Multi-Family & Commercial Property Investing, Understanding How Real Estate Syndications Work in Practice, The Tax Benefits of Investing in Multifamily Real Estate. 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. As of year-end, this GAAP expense accrual has been fully reversed. 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. Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 Privacy Policy 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. Which investors participated in the most funding rounds within this hub? 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. Crescent Capital Investor Profile: Portfolio & Exits | PitchBook We have just sent you an email so you can verify your account. it's been delivered there. We see several investors trying to strike it rich in options market by risking their entire savings. Crescent Point Energy (CPG) Receives a Buy from BMO Capital In addition, our portfolio managers have responsibility for multi-asset class strategies that are constructed from each of the asset classes we manage. 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. Sorry, no results has been found matching your query. Crescent Capital is a Belfast based venture capital fund manager. Crescent Credit. Venture Capital Portfolio. Video: Matt Courtney, CEO Construction Sciences. Crescent Capital BDC, Inc. to Acquire Alcentra Capital Corporation For more information about Crescent. 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 . Investing in the future of finance, education, SaaS, logistics, and more. I.e., is your forward leverage range target changing as a result of proposed acquisition?