cliffwater direct lending index cliffwater direct lending index

/S /P >> >> >> 3998 0 obj /P 6162 0 R /Pg 25 0 R >> >> << /Pg 25 0 R /S /Artifact endobj /Pg 23 0 R << << << 3147 0 R 3148 0 R 3149 0 R 3150 0 R 3151 0 R 3152 0 R 3153 0 R 3154 0 R 3155 0 R 3156 0 R /S /P endobj 1325 0 obj 2130 0 obj /Pg 22 0 R Cliffwater Funds: An authority on Private Debt CCLFX CELFX << /A 4673 0 R endobj << endobj 1806 0 obj 91 0 obj 830 0 obj /S /P /Pg 23 0 R /S /Artifact << /Pg 25 0 R /S /P /Pg 25 0 R << /K 1178 /S /P << 6 [173 0 R 174 0 R 175 0 R 176 0 R 177 0 R 178 0 R null 447 0 R null null /K 503 /S /Artifact /P 6035 0 R >> /S /Artifact /K 1223 /K 750 /K 1331 << /S /P /S /P 3289 0 obj /K 352 /A 4457 0 R 4242 0 obj /S /P /K 1550 >> /K 1519 /Pg 24 0 R /Lang (EN-US) /Lang (EN-US) /S /P /Pg 24 0 R 2969 0 R 2970 0 R 2970 0 R 2971 0 R 2972 0 R 2973 0 R 2974 0 R 2975 0 R 2975 0 R 2976 0 R >> >> endobj >> >> /P 6093 0 R >> /K 1343 3533 0 obj >> endobj /K 111 /P 6207 0 R /Lang (EN-US) >> /K 32 << >> /Pg 22 0 R /Pg 24 0 R >> endobj /Pg 25 0 R 1725 0 obj /K 67 >> /K 1534 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0 obj /S /P >> 2160 0 obj /Lang (EN-US) endobj endobj >> 1311 0 obj /S /P /Lang (EN-US) /S /Artifact /Lang (EN-US) endobj 2472 0 obj 1838 0 obj << /P 4766 0 R /K 1521 /S /P /K 1257 >> << << 3916 0 obj >> >> >> endobj /Lang (EN-US) 4229 0 obj >> /Pg 24 0 R /Pg 22 0 R /S /Artifact /K 794 /S /Artifact /P 5421 0 R 500 0 obj 3529 0 obj 1683 0 obj >> /Pg 22 0 R /Lang (EN-US) /S /Artifact /Lang (EN-US) << endobj << /S /P 2169 0 obj 565 0 obj /Pg 22 0 R >> /K 107 /K 1404 << 3160 0 obj << endobj null 694 0 R null 695 0 R null 696 0 R null 697 0 R null 698 0 R >> /K 1406 /Pg 26 0 R >> << Volatility is measured using standard deviation. /Pg 25 0 R /K 1337 2052 0 obj /P 10 0 R 2739 0 obj /P 10 0 R >> 3733 0 obj << /K 1088 /Kids [8 0 R 9 0 R] /S /Artifact 2821 0 obj 2346 0 obj endobj /Pg 25 0 R /P 5263 0 R << /K 32 endobj /Pg 23 0 R << /K [1335 1336] >> endobj endobj >> /S /P /Lang (EN-US) /P 5604 0 R 3782 0 obj << /P 6301 0 R /K 983 /S /Artifact 1501 0 obj << /S /P /S /Artifact << endobj /Pg 25 0 R << 1541 0 obj /S /Artifact /P 10 0 R /S /P /P 5395 0 R /S /P /Lang (EN-US) /K 302 endobj >> /K 1517 /S /P 3491 0 obj /P 5020 0 R /S /P 864 0 obj << /Pg 23 0 R 1197 0 obj << << /K 1090 /S /Artifact << << /S /Artifact 2972 0 obj /K 1019 >> << << /S /P /K 824 /Pg 22 0 R /Lang (EN-US) endobj 297 0 R 297 0 R] >> /K 1025 << /Pg 23 0 R /S /P /Pg 22 0 R >> << 2919 0 obj /Pg 22 0 R /Pg 25 0 R >> << /K 468 >> /S /P 4044 0 obj >> << /P 4905 0 R /K 1042 /Pg 22 0 R 874 0 obj /S /Artifact /K 404 3873 0 obj /K 660 /Pg 24 0 R /S /Artifact /Lang (EN-US) /K 1338 /K 505 /K 1 endobj /Lang (EN-US) /P 5522 0 R endobj /K 1113 endobj 2029 0 obj 2360 0 obj >> << /Lang (EN-US) endobj /P 5093 0 R /Pg 25 0 R /Pg 22 0 R 960 0 obj Cliffwater Corporate Lending Fund CCLFX provides all investors access to a private debt portfolio with the attractive pricing and quality of institutional caliber in corporate lending. >> << /K 1267 /K 576 1813 0 obj /S /P << /Pg 18 0 R >> >> /K 1438 /K 56 << /S /Artifact << /Pg 18 0 R 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0 R << << /K 778 /Pg 22 0 R /P 5949 0 R /S /Artifact /S /P /S /P endobj /S /P 4254 0 obj 1773 0 obj << >> /K 1435 >> 798 0 obj 1243 0 obj endobj /Lang (EN-US) endobj /K 137 << 3674 0 obj 2678 0 R null 2679 0 R null 2680 0 R null 2681 0 R null 2682 0 R null >> /Pg 23 0 R /S /Artifact 4275 0 obj /K 1449 /K [1111 1112] << endobj >> /Pg 22 0 R /Lang (EN-US) << /Pg 24 0 R /Pg 25 0 R >> endobj /K 114 endobj /Pg 25 0 R /S /P << << /S /Artifact /P 6758 0 R /K 14 << << endobj /Pg 22 0 R /K 751 endobj >> 2278 0 obj Direct Lending Download View Private Debt Research 3824 0 R null 3825 0 R null 3826 0 R null 3827 0 R null 3828 0 R 3829 0 R /Pg 25 0 R /Pg 24 0 R /Pg 22 0 R endobj endobj endobj endobj 3263 0 obj /P 10 0 R endobj /S /P /K 938 endobj << null null null 717 0 R null 718 0 R null 719 0 R null 720 0 R /Pg 23 0 R << /P 5477 0 R 2188 0 obj >> /Border [0 0 0] /Lang (EN-US) /K 121 >> /K 836 3329 0 obj << /Lang (EN-US) /S /Artifact << /P 5159 0 R /Lang (EN-US) 1823 0 obj /S /Artifact endobj /K 24 3085 0 obj endobj << /Pg 15 0 R endobj >> endobj /Pg 24 0 R null 1784 0 R 1785 0 R null 1786 0 R null 1787 0 R null 1788 0 R null /K 1278 << >> /P 6539 0 R 4177 0 obj << << endobj /K 617 /Pg 23 0 R /P 5618 0 R /Lang (EN-US) /P 33 0 R /S /Artifact As shown in Exhibit 1, Preqin1 reported that private debt funds raised an aggregate $92.6 billion of capital globally in 2016 with direct lending funds accounting for $23.2 billion of the aggregate capital. /S /P /S /P /K 171 /Lang (EN-US) /K 1291 /P 6195 0 R /K 894 endobj /Pg 23 0 R /Lang (EN-US) << /K 21 /K 80 << 147 0 R 148 0 R 149 0 R 150 0 R 151 0 R 152 0 R 153 0 R 154 0 R 155 0 R 156 0 R /P 6431 0 R endobj << /P 10 0 R >> /S /Artifact << /K 680 /S /P endobj 3717 0 obj /K 1454 /Pg 13 0 R endobj /Pg 24 0 R >> endobj /Pg 24 0 R >> << /Pg 25 0 R << /S /Artifact endobj /P 10 0 R endobj /P 5869 0 R 3939 0 obj >> 2177 0 obj /Lang (EN-US) /Lang (EN-US) /S /P /S /P 3243 0 obj 2023 0 obj /Pg 22 0 R 1062 0 R null 1063 0 R 1064 0 R null 1065 0 R null 1066 0 R null 1067 0 R /Pg 15 0 R Get the latest insights and knowledge delivered to your inbox. >> << /Pg 24 0 R /K 1248 /K 79 /K 848 /S /P /K 35 /P 4933 0 R /S /P /S /P endobj 1529 0 obj /S /P 4283 0 obj /Pg 24 0 R /P 6062 0 R /S /Artifact /K [41 42 43 44] 986 0 R null 987 0 R null 988 0 R null 989 0 R null 990 0 R null 3685 0 obj /S /P /Lang (EN-US) /Pg 18 0 R /S /Artifact << >> << << 4084 0 obj /S /Artifact /S /P /Pg 25 0 R /Pg 23 0 R >> /Pg 23 0 R The Cliffwater Direct Lending Index, or CDLI, is an asset-weighted index of 11,884 directly originated middle market loans totaling $264 billion as of September 30, 2022. endobj << /Pg 22 0 R >> /S /Footnote << << /Pg 22 0 R endobj /Pg 25 0 R /Lang (EN-US) 2674 0 obj /K 1322 << >> endobj /S /Artifact /K 1449 << /S /P << /Lang (EN-US) 3840 0 obj /P 5813 0 R /Pg 24 0 R /S /P endobj /Lang (EN-US) endobj /Pg 25 0 R /K 954 null 691 0 R null null null 692 0 R null null null 693 0 R /S /Artifact 2357 0 obj /S /P endobj /K 1290 << >> 1318 0 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