Steve is Chief Executive Officer of Cliffwater LLC. Steve is responsible for client service and oversees all investment research.  Prior to forming Cliffwater in 2004, Steve was a Senior Managing Director and principal of Wilshire Associates from 1980 to 2004.  From 1990 he led the Consulting Division and built the asset management business using a 'manager of manager' investment approach, including private equity and hedge fund of fund products. His published articles have appeared in the Financial Analysts Journal, the Journal of Portfolio Management and the Journal of Applied Corporate Finance on issues ranging from performance fees, to currency hedging to private equity performance.

He earned a BA in Mathematics and Economics from Eisenhower College, and an MBA from The Wharton School at The University of Pennsylvania.