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. 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 is an independent private equity and asset management firm with a focus on energy and infrastructure investments in Turkey and surrounding regions. We believe that these asset classes provide our clients with opportunities to generate income while preserving capital. We initially share this idea in October 2018 and the stock already returned more than 150%. Turning to Slide 16. Robert Dodd: Got it. As of December 31, 2022, Crescent Capital Group managed approximately $40 billion of privately originated debt investments and marketable securities. The total size of the investment portfolio is around USD 400 million which includes hydro, wind, solar assets under operation. Wed like to thank all of you for your continued support and time today. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. And it means its going to be harder than ever to hold onto any money you make. We see several investors trying to strike it rich in options market by risking their entire savings. 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Warren Buffett took 25% of all returns in excess of 6 percent. 10-K: CRESCENT CAPITAL BDC, INC. - MarketWatch Crescent Capital Group Closes Eighth Credit Solutions Fund, Raising $8 We did intentionally delever a bit here in Q4 in anticipation of the merger. 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. 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 BDC, Inc. Reports December 31, 2022 Financial Results Get our editors daily picks straight in your inbox! First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Crescent Capital Group Please go ahead. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. AirAsia plans to launch ride-hailing service in Spore, but do they stand a chance to compete? Warren Buffett has been investing and compounding for at least 65 years. Please turn to Slides 13 and 14 of the presentation, which highlights certain characteristics of our diversified portfolio. Id now like to turn it over to Henry to discuss our Q4 investment activity. Its also worth highlighting that in January, we upsized our SMBC Corporate Revolving Facility by $35 million to $385 million. We generally believe that our private equity partners provide operational and financial support to strengthen their portfolio companies for long-term value creation, which is particularly valuable during periods of heightened volatility, like the one we are investing in today. Jason Breaux: Okay. As you can see on the right-hand side of the slide, we have a low level of debt maturities over the next few years with $150 million maturity related to our 5.95% unsecured notes in July 2023. 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. Please also note that past performance or market information is not a guarantee of future results. We believe this is an important distinction to highlight for shareholders in a volatile market environment. PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Privacy Policy 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. | A link has been emailed to you - check your inbox. 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 Passive Investing: Which Real Estate Strategy is Right for You. Thank you again, everyone for your interest and support of CCAP. 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. Before we begin, Ill start with some important reminders. 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. 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. Guidance Or was it a more normal course of business add-ons or growth or whatever? For the fourth quarter, over 99% of our total debt investments at fair value made full scheduled principal and interest payments. Crescent BDCs portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. 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. 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. . List of top Crescent Capital Portfolio Companies - CrunchBase As you can guess, Warren Buffetts #1 wealth building strategy is to generate high returns in the 20% to 30% range. This is basically a recipe to generate better returns than Warren Buffett is achieving himself. Our team have been drawn from top tier strategy consulting practices and operating leadership roles in industry. ", "Crescent brings a laser light focus on the things that drive value to our business.". And we remain well diversified across 18 industries and continue to lend almost exclusively to private equity-backed companies with 98% of our debt portfolio in sponsor-backed companies as of year-end. Im on Slide 19. Crescent Capital Group LP has closed its eighth private credit fund at $8 billion. He began his investing career at Focus Partners, LLP, a Singapore-based long/short equity hedge fund focused on Southeast Asia. The company's 90% portfolio is performing above expectations, while 89% of its portfolio. 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. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. The health of the portfolio is also demonstrated by the stable weighted average portfolio grade and low nonaccrual rates. 87% in this quarter were raising one or two, so it appears pretty stable. If you experience any issues with this process, please contact us for further assistance. Yesterday, after the market closed, the company issued its earnings press release for the fourth quarter and year ended December 31, 2022, and posted a presentation to the IR Section of its website at www.crescentbdc.com. Product Marketing and Business Development Director. The obvious, I mean, how you gave the interest coverage based on year-end rates. Henry? Crescent Capital's shares are likely to rebound, as fundamental factors don't support the downtrend. Crescent Capital is a Belfast based venture capital fund manager Offerings across the credit quality spectrum 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. On a GAAP basis, fourth quarter net investment income per share was $0.52. Our GAAP earnings per share or net increase in net assets resulting from operations for the fourth quarter of 2022 was $0.08, which compares to negative $0.08 per share for the prior quarter. Read More 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. Website by GCI. (310) 235-5900 (310) 235-5900 CCS Fund VIII Becomes Largest Capital Raise in Crescent's History. Now lets shift to capitalization and liquidity. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. The difference relates to a noncash reversal of our capital gains-based incentive fees on net realized and unrealized capital appreciation. Thanks for the question. Jason Breaux: Hey Robert, its Jason. 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.