Cliffwater is proud to be recognized as LP/Investor of the Year: Americas by Private Debt Investor (PDI) for the second consecutive year.1
Cliffwater has long been one of the US’s leading and most innovative investors in private credit through vehicles such as its SEC-registered interval funds Cliffwater Corporate Lending Fund (CCLFX) and Cliffwater Enhanced Lending Fund (CELFX). Founded in 2004, the firm now has close to 200 employees and around $120 billion in total assets. Cliffwater invests through GP primary funds, secondaries, separately managed accounts, private BDCs and co-investments. Capital providers include high-net-worth individuals, insurance companies, pensions, endowments and SWFs. Cliffwater is also a key research provider for the asset class, including through its suite of Direct Lending Indexes.
Read PDI’s interview with Frances Beyers, Head of Capital Markets
20 Years of
Defining Alternatives
2004
Year Founded
202
Employees
$120B
Total Assets1
For 20 years, Cliffwater has been defining how investors understand and allocate to alternatives. Rooted in industry-evolving research, Cliffwater has become regarded as a leader in alternatives advisory services and asset management. Our proprietary indexes, innovative fund offerings, and knowledge continue to influence and enhance how investors, from some of the largest institutions to individual investors, access alternatives.
“
As a thought leader and solutions provider, Cliffwater has shaped investors' relationships with alternatives, providing objective advice, dispelling misconceptions, and breaking down barriers to entry. We take pride in our accomplishments and the results we have delivered for our clients.
”
– Stephen Nesbitt, CEO
Featured Insights
Private Debt
Cliffwater Direct Lending Index – 1st Quarter, 2025
Asset Allocation
Cliffwater Asset Allocation Webinar 3rd Quarter 2025
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1. As of June 30, 2025. Includes $42 billion assets under management and $78 billion assets under advisement.