Get the full list, Youre viewing 5 of 21 co-investor. Next, CBDC Senior Loan Fund, our joint venture was formally dissolved during the fourth quarter after being largely wound down in recent quarters. 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. 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. 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. So, how did Warren Buffett manage to generate high returns and beat the market? In our view, our long-term track record of strong credit performance and NAV stability since inception demonstrates the merits of our proven investment process as we work to deliver attractive results to our shareholders. And then one more, if I can. All information contained in this website is qualified by the terms of applicable offering documents. Read More Our Strategy Learn more about our investing strategy. Gerhard Lombard: Thanks, Henry, and good morning, everyone. This recurring revenue ultimately accounted for 94% of this quarters total investment income, up from 86% in Q4 of 2021. Using market interest rates at year-end, weighted average interest coverage for the total portfolio was 1.9x. 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. I will turn the call back to Jason Breaux for closing remarks. We remain very excited about the acquisition as we believe the combination provides many strategic and financial benefits to the combined company. First, we are targeting the closing of our announced merger with First Eagle BDC this quarter. Total investment income of $34.6 million for the fourth quarter, the highest quarterly figure weve reported since inception compares to $29 million for the prior quarter, representing an increase of approximately 19%. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Your submission has been received! Discover more about our company and values. 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. By providing your email address below, you are providing consent to Crescent Capital BDC, Inc. to send you the requested Investor Email Alert updates. I would say broadly speaking, we continue to feel good about the health of the overall portfolio. Where Do Hedge Funds Stand On Crescent Capital BDC, Inc. (CCAP)? - Yahoo! Crescent BDC's portfolio, at any given point in time, may be comprised of some, all or none of the asset types shown. Acting as a first-mover, we put together innovative financing structures and investment vehicles creating value for our institutional investors. Please turn to Slide 15 where we highlight our recent activity. This website is neither an offer to sell nor a solicitation of an offer to buy securities. For more information about Crescent Capital Group, please visit www.crescentcap.com. 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 . View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005594/en/, Mendel CommunicationsBill Mendel, +1-212-397-1030bill@mendelcommunications.com. We target middle market companies located in Australia and New Zealand with enterprise values of $50m to $300m. At Crescent Capital, we invest in debt securities at all levels of a companys capital structure. This serves to drive growth and performance improvement, accelerating value creation for shareholders. One, the Boards of Directors of Crescent BDC and First Eagle BDC have each unanimously approved the transaction. We ended the year with nearly $1.3 billion of investments at fair value across 129 portfolio companies with an average investment size of less than 1% of the total portfolio. Can you give us any color around that? This increase was driven primarily by rising base rates and higher spreads. 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 Investments, LLC is a privately held investment company that focuses on acquiring and managing opportunistic and value-add multi-family properties. We are headquartered in Los Angeles with offices in New York, Boston, Chicago, and London. Dan McMahon: Good morning, and welcome to Crescent Capital BDC, Inc.s fourth quarter and year ended December 31, 2022 earnings conference call. He launched his hedge fund in 1956 with $105,100 in seed capital. Crescent Capital BDC, Inc. - Investor Relations PitchBooks data visualizations quickly surface an investors historical investmentsshowing a breakdown of activity by industry, year and region. Crescent Capital Group - Wikipedia 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. Capital raised by global funds reached almost $150 billion as of 30 September, up 19 percent year over year, Private Debt Investor reported. Use of this website is governed by the Terms and Conditions. At Crescent Capital BDC, Inc., we promise to treat your data with respect and will not share your information with any third party. And so on a pro forma combined basis, I think were going to end up sort of right in the middle of our target leverage range that we publicly stated as kind of 1.1 to 1.4. And with that, operator, please open the line for questions. I believe it will make millions of Americans vastly wealthier. 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. 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 see several investors trying to strike it rich in options market by risking their entire savings. We did intentionally delever a bit here in Q4 in anticipation of the merger. $30MM Weighted Average Portfolio Company EBITDA, Disciplined portfolio construction with average position size <1% of total fair value. 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. Henry? Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their. You can sign up for additional alert options at any time. This list of organizations invested in by Crescent Capital provides data on their funding history, investment activities, and acquisition trends. Crescent has launched and fully invested the first energy-focused private equity fund in Turkey. Use the PitchBook Platform to explore the full profile. Crescent Capital Partners | Private Equity Firm in Sydney Australia Thank you! bdcir@crescentcap.com. These are the top 5 holdings of Crescent Capital Consulting, LLC iShares Core S&P 500 ETF ( IVV) - 140,585 shares, 11.05% of the total portfolio. A couple of reminders as it relates to the transaction. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Crescent Capital Group Closes Third U.S. Direct Lending Fund, Raising Video: Melinda McGrath, CEO Australian Clinical Labs. With that, I will now turn it over to Gerhard. 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. . 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. I believe he will not only run again next year, but could win a 2nd Presidential term and by a LANDSLIDE. Crescent Capital is unique in its ability and track record of building out businesses from a standing start, internally and in partnership with management teams. 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. Good morning, everyone, and thank you for joining our earnings call. The presentation should be reviewed in conjunction with the companys Form 10-K filed yesterday with the SEC. The firm seeks to invest in middle-market companies across Australia and New Zealand with a focus on the industrial, financial services, healthcare, consumer brands, technology, and education sectors. What's the most common types of sub-organization? Video: Cameron Johnson, CEO Nucleus Network. Only logged in subscribers of this site will be able to access the shared article. The fund was more than double the size of . Jason Breaux: Okay. Networking We provide expertise and exposure to a network of relevant business contacts. Id also note that PIK income continues to represent a modest portion of our revenue at approximately 2% of total investment income. Home - Crescent Capital We take great pride in building long term partnerships with our investors based on an established reputation for delivering consistently strong performance. It has a well-diversified portfolio and is unique in that it also has international exposure. Crescent has successfully helped unique Australian products become iconic brands that are loved by consumers around the world. For this period, the Company had $277.6 million in aggregate exits, sales and repayments. Please note that Crescent Capital BDC, Inc. may be referred to as CCAP, Crescent BDC or the company throughout the call. We continue to believe that CCAP remains well positioned to navigate the economic and market uncertainty ahead. 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. All data as of 12/31/2022. Founder, Chief Executive Officer and Managing Director, Chief Financial Officer & Investment Executive, Youre viewing 10 of 67 investments. 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. Robert Dodd: Hi guys. KEY HIGHLIGHTS Generated significant excess cash flow of approximately $1.2 billion, driven by a strong netback asset base. As you can see on the left-hand side of the page, over 99% was an existing senior secured first lien and unitranche investments. 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.