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. 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. Crescent is an alternative asset manager with approximately $40 billion 1 of assets under management and over 210 employees as of December 31, 2022. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. A reconciliation of adjusted net investment income per share to net investment income per share, the most directly comparable GAAP financial measure can be found in the accompanying slide presentation for this call. But can you give us any color on how the portfolio companies are actually performing on EBITDA or revenue or anything like that? Get the full list, Youre viewing 4 of 6 team members. Focus on Seed and Series A. Jason Breaux: Thanks, Gerhard. 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. This serves to drive growth and performance improvement, accelerating value creation for shareholders. 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. bdcir@crescentcap.com. We believe this is an important distinction to highlight for shareholders in a volatile market environment. We look forward to speaking with you again soon. Jason reviewed several metrics related to our portfolio. Operator: Ladies and gentlemen, this does conclude our conference call for today. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. I.e., is your forward leverage range target changing as a result of proposed acquisition? Crescent Capital Partners invests in companies and sectors with growth potential within Australia & New Zealand or internationally. The all time high for this statistics is 5. In addition to equity capital, partnering with Crescent brings access to deep industry expertise and significant strategy and operational support. 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. Our portfolio at fair value was comprised of the following: I mean, whats the how are things actually trending right now? 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. Healthcare is Crescent's largest sector by investment. here to register, Not for publication, email or dissemination, Whitehorse Liquidity Partners grows team to 150 professionals, PE-backed Chartbeat acquires Lineup Systems and Tubular Labs, Industrial manufacturing round-up; Personal care products; 2023 Women in PE, EQT and PSP team up on Radius acquisition; Charlesbanks Caitlin Riederer talks women in PE, Introducing the Women in PE Class of 2023; Lincoln Road partially exits Brothers National, Fengate Private Equity-backed Inflector snaps up Donalco, Audax-backed Colony acquires New South Construction Supply. Use of this website is governed by the Terms and Conditions. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Shares added by 1.69% iShares Russell 1000. 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. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. And then one more, if I can. 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. As a reminder, this call is being recorded for replay purposes. We see our role as working on the business, helping accelerate business decisions by providing capital, the consulting toolkit and done it before experience. Don't have an account? We initially share this idea in October 2018 and the stock already returned more than 150%. What's the most common types of sub-organization? With a reputation for delivering strong performance through a structured and disciplined approach to investment management, our team works actively alongside senior management to drive organic growth and value creation in invested companies. In particular, in the past 15 years Crescent has been the most active private equity manager in healthcare in Australia. 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. Realized gains and losses, we believe, is a more important metric in grading our performance than unrealized gains and losses, which has meaningfully less impact on our longer-term results. We are an equity partner that brings more than money to the relationship. Crescent Capital is a Belfast based venture capital fund manager. Great. In a free sample issue of our monthly newsletter we analyzed Warren Buffetts stock picks covering the 1999-2017 period and identified the best performing stocks in Warren Buffetts portfolio. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Comments made over the course of this conference call and webcast may contain forward-looking statements and are subject to risks and uncertainties. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. 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. Jason Breaux: Thank you, Dan. We have a track record of expanding Australian businesses into Asia with over 50% of portfolio companies having an Asian presence. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. It has a well-diversified portfolio and is unique in that it also has international exposure. He launched his hedge fund in 1956 with $105,100 in seed capital. We still like this investment. it's been delivered there. Crescent is an alternative asset manager with approximately $40 billion1of assets under management and over 210employees as of December 31,2022. We have a large internal team which helps accelerate a portfolio company management teams decision making. 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 . We redeployed the majority of the proceeds from this monetization activity primarily into directly originated higher spread Crescent private credit opportunities. Crescent Credit Solutions VIII's backers include insurance companies, pension funds, sovereign wealth funds, financial institutions, and multi-employer plans. Back then they werent called hedge funds, they were called partnerships. 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. He most recently served as Executive Vice President at PIMCO based in New York City, where he led business development across large corporate pensions, family offices, endowments, foundations and healthcare institutions. 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. Warren Buffett has been investing and compounding for at least 65 years. Or was it a more normal course of business add-ons or growth or whatever? Website by GCI. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. Do you expect to be running on a combined basis going forward? Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The in house depth and breadth of consulting and operating skill sets provides support for portfolio companies to achieve their potential. | Continued strong performance ratings and low nonaccrual levels. We believe an active engagement model is a leading indicator of strong company performance. Win whats next. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. 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. Jason Breaux: Sure. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. Real Estate Portfolio Direct and LP investments across various asset types across the United States, including commercial, retail, multi-family, residential, hotel, development, self-storage and RV Parks. This has proven to be a competitive advantage, particularly in the current lending environment. Networking We provide expertise and exposure to a network of relevant business contacts. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. An investment in Crescent BDC is different from a direct investment in any of the asset types shown above. 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. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. Private Equity Portfolio. 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. 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 Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. So lets begin. As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. Robert Dodd: Hi guys. 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 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. 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. We appreciate your continued interest in CCAP. A link has been emailed to you - check your inbox. 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. You must click the activation link in order to complete your subscription. 1: AUM as of 12/31/2022 and includes committed assets and employee investments in Crescent managed portfolios. Only logged in subscribers of this site will be able to access the shared article. Operator: Thank you. Net realized losses were less than $0.05 per share. Operator: Good afternoon, ladies and gentlemen, and welcome to the Q4 2022 Crescent Capital BDC, Inc. Earnings Conference Call. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. And it means its going to be harder than ever to hold onto any money you make. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. 2023 Crescent Capital Group LP. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. Operator: Thank you. Please go ahead. 2023 Crescent Capital Investments The company's 90% portfolio is performing above expectations, while 89% of its portfolio. 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. We did intentionally delever a bit here in Q4 in anticipation of the merger. I look forward to working with our talented team of professionals to continue serving our current and prospective investors.". Before we begin, Ill start with some important reminders. 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. Ill provide some fourth quarter and full year highlights, touch on our current portfolio and positioning and then turn it over to Henry to review our recent activity in more detail.