cliffwater direct lending index

/S /Artifact /Pg 17 0 R /P 5935 0 R /S /P /Pg 22 0 R <> << /K 1198 /K 326 /K 105 << 3997 0 obj >> << /K 1407 /Lang (EN-US) /Lang (EN-US) 1031 0 obj << << /K 192 /K 68 /Pg 22 0 R /S /Artifact /Pg 22 0 R << /S /Artifact endobj 14 [333 0 R 334 0 R 335 0 R 336 0 R 337 0 R 338 0 R 339 0 R 340 0 R 341 0 R 342 0 R /Lang (EN-US) >> >> /K 1264 /K 689 4192 0 obj /K 1218 /Pg 22 0 R /Lang (EN-US) >> 2656 0 R null 2657 0 R null 2658 0 R null null null 2659 0 R null /S /P << /Lang (EN-US) 1076 0 R null 1077 0 R null 1078 0 R null 1079 0 R null 1080 0 R null 3301 0 obj << /K 1420 4123 0 obj /Pg 25 0 R /Pg 23 0 R endobj 1877 0 R null 1878 0 R null null null 1879 0 R null null null 2 Annualized volatility and return based on the period between 2005 and 2022. 543 0 obj /K 653 /K 1480 3707 0 obj /CropBox [0 0 612 792] /S /Artifact /Pg 22 0 R >> /S /P /K 554 /Pg 22 0 R << /Pg 25 0 R /Pg 24 0 R /Pg 23 0 R >> 3851 0 R null 3852 0 R 3853 0 R null 3854 0 R null 3855 0 R null 3856 0 R endobj << /S /P /K 7 >> endobj >> 2307 0 obj /Lang (EN-US) /Pg 22 0 R endobj /P 5334 0 R 1502 0 obj << endobj /Pg 23 0 R >> /Pg 23 0 R /S /P /K 15 endobj endobj /S /Artifact >> /K 1189 << >> /K 1160 endobj /S /Artifact /K 104 /K 291 Mr. Wolfe joined BlackRock through the acquisition of TCP. /P 6745 0 R /S /Artifact /Pg 25 0 R 470 0 obj /Pg 22 0 R endobj /K 1217 1280 0 obj >> /Pg 23 0 R /S /P << endobj <> /K 1123 >> /Pg 23 0 R >> << /S /Artifact /S /P << /K 797 /K 1472 >> << /Lang (EN-US) /Pg 25 0 R /S /P /Pg 19 0 R /Subtype /Link null 1727 0 R null 1728 0 R null 1729 0 R null null null 1730 0 R /S /Artifact null 93 0 R null null 420 0 R null 421 0 R null 95 0 R 97 0 R /Pg 22 0 R /P 5214 0 R 3350 0 obj << /Lang (EN-US) 103 0 obj endobj << /K 1196 endobj /Pg 23 0 R /Pg 22 0 R >> /Pg 25 0 R /Pg 23 0 R /P 5760 0 R 984 0 obj /K 543 /Pg 25 0 R /K 685 /P 10 0 R >> /Lang (EN-US) /S /Artifact /S /P /Pg 25 0 R null null null 3506 0 R null 3507 0 R null 3508 0 R null 3509 0 R /K 1385 /P 4653 0 R /Pg 25 0 R << /K 1414 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endobj >> /Lang (EN-US) /P 5119 0 R 169 0 R 170 0 R 171 0 R null 441 0 R null 442 0 R null null null << /K 1321 >> /K 4 >> << << << /Lang (EN-US) >> << << endobj /S /Artifact 22 0 obj << >> <> << << 3840 0 obj << endobj >> /S /P /K 142 << /S /Artifact 4336 0 obj >> >> 3509 0 obj << /Pg 22 0 R 180 0 obj >> 707 0 obj << /Pg 24 0 R 937 0 obj >> /Pg 24 0 R /Pg 23 0 R << /Pg 20 0 R /Pg 22 0 R /Lang (EN-US) /S /P /P 6559 0 R 3815 0 obj << 3539 0 obj /K 10 /S /P >> /S /Artifact 505 0 obj /S /P 1573 0 obj /P 5161 0 R /K 1314 /StructParents 7 << /K 662 /S /P /Pg 25 0 R << /Pg 24 0 R /S /Artifact 3750 0 obj /K 271 endobj /K 950 /S /P >> /Lang (EN-US) endobj >> /Pg 24 0 R << /K 1163 /Lang (EN-US) endobj /Pg 24 0 R >> 1086 0 obj 2003 0 obj /K 486 /Pg 22 0 R 948 0 obj 4249 0 obj << >> /Pg 23 0 R /K 1446 >> /K 1186 endobj >> >> /K 1505 >> >> /P 5361 0 R 4194 0 R 4195 0 R 4196 0 R 4197 0 R 4198 0 R 4199 0 R 4200 0 R 4201 0 R 4202 0 R 4203 0 R /S /P endobj /Lang (EN-US) /S /P endobj /P 10 0 R 458 0 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R /K 1519 /K 1131 1570 0 obj 2434 0 obj endobj >> << /S /Artifact << /S /Artifact >> 352 0 obj >> >> /S /Artifact null null 2540 0 R null 2541 0 R null 2542 0 R null 2543 0 R null >> /K 1431 endobj 2478 0 obj /S /P endobj /S /Artifact /Pg 25 0 R /S /P /K 156 /S /Artifact /K 457 /P 6724 0 R /Pg 25 0 R endobj /K 1452 /S /Artifact endobj /S /P /P 6072 0 R 978 0 obj 1813 0 obj /Pg 24 0 R >> /S /P /S /P endobj << << /K 26 3084 0 obj << /S /Artifact << /Lang (EN-US) endobj 4155 0 obj Market Closed. /DropCap /Figure >> >> 3489 0 obj /P 6494 0 R 3593 0 obj << << /Lang (EN-US) endobj 41 0 obj /S /Artifact /S /Artifact J.P.Morgan, Guide to Alternatives, 2Q 2020. >> endobj << /K 927 << 4223 0 obj 1730 0 obj << 2679 0 obj 1061 0 obj /S /P /Pg 25 0 R /S /P >> /Pg 22 0 R >> /K 72 /Pg 22 0 R 15 0 obj >> << /S /Artifact /Lang (EN-US) << endobj >> /S /Artifact /K 1281 /K 369 /S /P <> /K 1154 /K 849 1562 0 obj /Pg 22 0 R /Lang (EN-US) /S /Artifact 2749 0 obj 1057 0 obj endobj /S /Artifact /P 6492 0 R 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24 0 R 3705 0 obj endobj /Pg 25 0 R /K 863 916 0 obj /S /Figure /S /Artifact /K 124 /S /P /S /Artifact /S /Artifact /Pg 22 0 R /K 967 /S /P endobj /S /P /Pg 23 0 R /K 1439 /P 5782 0 R 1763 0 obj endobj /S /Artifact endobj << 2022-05-24T03:05:06-06:00 >> >> << 1924 0 obj /K 82 >> /P 4655 0 R 371 0 obj >> Infra: Bloomberg mnemonic Infra300 Index; Private Credit: Cliffwater Direct Lending Index; Real Estate: . /K 1046 /Lang (EN-US) /K 1482 /S /Artifact >> /Lang (EN-US) /Pg 25 0 R /S /Artifact << /S /P >> /Pg 23 0 R >> << /Pg 24 0 R << endobj 380 0 R 381 0 R 382 0 R null 383 0 R null 384 0 R null 385 0 R 44 0 R 4254 0 R 4255 0 R 4256 0 R 4257 0 R 4258 0 R 4259 0 R 4260 0 R 4261 0 R 4262 0 R 4263 0 R << null 427 0 R null null 100 0 R 101 0 R 102 0 R null 428 0 R null /S /P >> endobj Direct Lending Download View Private Debt Research << 3183 0 obj << 108 0 obj /P 6026 0 R endobj /K [39 40 41 42 43 44] 4154 0 obj /P 6334 0 R << endobj /Lang (EN-US) /S /Artifact << /S /Artifact Home - Cliffwater LLC /K 21 >> /K 614 << endobj >> /Pg 24 0 R >> /Lang (EN-US) << /K 1094 /K 268 /K 1398 >> << /S /Artifact /Pg 25 0 R /Lang (EN-US) endobj /K 314 /Lang (EN-US) >> /Pg 22 0 R >> /P 6412 0 R >> 1039 0 obj /Pg 18 0 R endobj /S /Artifact >> /Pg 22 0 R << /S /P /S /P >> >> /S /P >> >> /Pg 22 0 R /S /Artifact <> endobj << /Pg 24 0 R /K [159 540 0 R 190] /P 4638 0 R >> << >> 3180 0 obj >> >> 3162 0 obj endobj << >> /K 555 << << /S /P <> /Pg 25 0 R >> << /K 1270 /S /P endobj /K 1458 /S /P endobj /P 10 0 R >> << /S /Artifact 3057 0 obj /S /P 3874 0 obj /K 1464 2775 0 obj endobj >> /K 1139 /P 5550 0 R >> /Lang (EN-US) /K 3 /P 5925 0 R /K [41 42 43 44] /P 4968 0 R >> endobj >> /Pg 22 0 R << << >> /Pg 25 0 R /K 46 /P 6037 0 R 91 0 obj endobj /P 6572 0 R endobj /Lang (EN-US) << null 3808 0 R null 3809 0 R null null null 3810 0 R null null 732 0 obj /K 1413 /S /Artifact /P 5701 0 R /S /P /Pg 22 0 R 1742 0 obj /Pg 22 0 R 2245 0 obj << /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) /K 283 << /Pg 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1427 << /Pg 25 0 R >> >> /Lang (EN-US) /K 520 /S /Artifact /K 992 endobj /K 402 << >> /S /Artifact endobj /Lang (EN-US) >> endobj 4250 0 obj /Pg 25 0 R /Lang (EN-US) endobj /Lang (EN-US) /Pg 22 0 R /S /Artifact << >> << >> 3030 0 obj /Pg 24 0 R /A 4681 0 R << >> >> /K 270 2629 0 obj /K 376 endobj 1841 0 obj >> 3894 0 obj /S /P /Pg 23 0 R /Lang (EN-US) /Pg 22 0 R >> << << /K 372 >> >> 3137 0 R 3138 0 R 3139 0 R 3140 0 R 3141 0 R 3142 0 R 3143 0 R 3144 0 R 3145 0 R 3146 0 R 1709 0 obj /P 5841 0 R endobj endobj /K 1514 /S /P /S /Artifact /S /Figure CLIFFWATER and the CLIFFWATER LLC logo are trademarks of Cliffwater LLC. 2424 0 obj 277 0 obj 3927 0 R 3928 0 R 3929 0 R 3930 0 R 3931 0 R 3932 0 R 3933 0 R 3934 0 R 3935 0 R 3936 0 R 1680 0 obj >> /Pg 23 0 R 2975 0 obj /P 4657 0 R /S /Artifact << /Lang (EN-US) /P 5469 0 R /K 164 307 0 R 308 0 R 309 0 R 310 0 R 311 0 R 312 0 R 313 0 R 314 0 R 315 0 R 316 0 R /S /P >> 3075 0 obj /S /Artifact /P 5299 0 R endobj /K 984 << /K 662 3567 0 obj /Lang (EN-US) /P 5462 0 R /P 6611 0 R << endobj /K 1423 endobj /Pg 25 0 R /P 4726 0 R /K 246 /K 90 >> endobj /S /P /P 5960 0 R /S /P /S /Artifact /Pg 15 0 R endobj /S /P 1837 0 obj /K 117 endobj /Pg 23 0 R 130 0 obj 2005 0 obj endobj Cliffwater's Condrell: Middle-market credits smooth portfolio - AICA /Pg 16 0 R 1784 0 obj << <> /K 219 /Pg 22 0 R /Pg 24 0 R /K 1184 1737 0 obj >> /S /Artifact 215 0 obj null 784 0 R null 785 0 R null 786 0 R null 787 0 R null null /S /P /S /P /S /P 1493 0 obj << /K [1334 1335] 1770 0 obj endobj /K 1154 >> >> << 4036 0 obj /Lang (EN-US) 4031 0 obj /Pg 24 0 R /K 863 2950 0 obj /Pg 24 0 R 3212 0 obj endobj << /S /Artifact << 1903 0 obj <> 3638 0 obj /S /P endobj /Lang (EN-US) >> 743 0 obj /K 1476 /P 6675 0 R << <> >> >> << << << >> /K 140 /K 587 /Pg 25 0 R /Pg 24 0 R /Pg 22 0 R 2357 0 obj /S /Artifact /S /Artifact /K 1133 endobj endobj /S /Artifact /Lang (EN-US) endobj /P 4996 0 R /S /LBody << 3918 0 obj 2118 0 obj /Pg 25 0 R /Pg 24 0 R /Pg 16 0 R 3122 0 obj >> 1482 0 obj /S /P endobj >> /Pg 24 0 R /K 1255 endobj /Pg 22 0 R >> >> /S /P >> /P 5553 0 R 3448 0 obj /P 5484 0 R /S /P /Pg 25 0 R /S /Artifact /Pg 23 0 R 748 0 obj 4072 0 obj >> endobj /Pg 22 0 R >> /S /P << endobj endobj /K [80 81] >> >> /Pg 22 0 R /Lang (EN-US) /K 902 /P 4719 0 R endobj /Pg 22 0 R << /S /P << /Type /StructTreeRoot <> /K 462 /K 5 /P 6466 0 R << << /S /P 2156 0 R 2157 0 R 2158 0 R 2159 0 R 2160 0 R 2161 0 R 2162 0 R 2163 0 R 2164 0 R 2165 0 R >> /K 25 3416 0 obj endobj /S /P 1695 0 obj /Pg 13 0 R /K 1313 /S /Artifact /S /Artifact endobj /Lang (EN-US) /S /Artifact endobj 282 0 obj /P 5554 0 R endobj /K 1332 /S /Artifact /Pg 25 0 R << /Pg 25 0 R /P 5123 0 R /S /P /K 626 endobj 3978 0 obj /S /Artifact /S /P /P 10 0 R /K 1468 /K 34 << << << >> /Lang (EN-US) /Lang (EN-US) /S /Artifact << /S /Artifact >> /K 1500 1936 0 obj 3563 0 obj 3304 0 R 3305 0 R 3306 0 R 3307 0 R 3308 0 R 3309 0 R 3310 0 R 3311 0 R 3312 0 R 3313 0 R /P 6690 0 R endobj << 4244 0 obj /S /P /Lang (EN-US) >> /Pg 13 0 R << /Lang (EN-US) /Pg 25 0 R endobj 3338 0 obj /S /P endobj endobj /Pg 23 0 R >> 4228 0 obj /Pg 24 0 R /K 6 /P 6387 0 R /Lang (EN-US) endobj 305 0 obj /Lang (EN-US) /S /Artifact /S /Artifact /Pg 23 0 R << /Pg 13 0 R << endobj /Pg 22 0 R 1 0 obj 360 0 obj /Contents 4386 0 R /Pg 23 0 R << /K 279 /K 62 /S /Artifact /Lang (EN-US) /K 1289 << << /Pg 22 0 R << /S /P /Lang (EN-US) /P 6179 0 R /S /Artifact 51 0 obj 1444 0 obj /Lang (EN-US) /S /P 4265 0 obj 3051 0 obj /K 7 /Pg 25 0 R /K 697 /K 1243 /S /P /K 516 /S /P << << /Pg 25 0 R /Pg 24 0 R /K 262 << /Lang (EN-US) << /K 1312 Cliffwater Direct Lending Index is an asset-weighted index of over 8,000 directly originated middle market loans totaling $223 billion. /Pg 22 0 R endobj endobj /Lang (EN-US) /K 116 endobj /Lang (EN-US) /S /Artifact 485 0 obj << /K 1167 /Pg 24 0 R /K 115 /Pg 25 0 R /Pg 24 0 R /S /P << null 3581 0 R null 3582 0 R null 3583 0 R 3584 0 R null 3585 0 R null /P 6454 0 R /S /Artifact /Pg 25 0 R 2373 0 R 2374 0 R 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