Cliffwater is proud to be the first firm recognized for three consecutive years as LP/Investor of the Year, Americas by Private Debt Investor (PDI).1
The Cliffwater Corporate Lending Fund and the Cliffwater Enhanced Lending Fund had net assets totalling $31.4 billion ($41.2 billion gross) and $6.9 billion ($7.1 billion gross), respectively, at September 30, 2025. The Cliffwater Corporate Lending Fund is focused on traditional senior-secured private direct loans while the Cliffwater Enhanced Lending Fund is weighted towards asset-backed lending together with second lien, venture, specialty finance, royalty, litigation, and structured equity lending. The funds act like a large traditional LP allocating to primary funds, negotiating and structuring large separately managed accounts, purchasing secondaries, and co-investing.
Read PDI’s interview with Blake Nesbitt, Cliffwater CIO
20 Years of
Defining Alternatives
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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.
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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.
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– Stephen Nesbitt, CEO
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