Hedge Fund Database

CLIFFWATER LLC

Adviser information for CLIFFWATER LLC last updated from Form ADV on March 29th, 2024. Select data displayed; additional Form ADV, Form D, Form 13F and other data is available from the Fincoded API.

Advisory Business

Type of Organization Limited Liability Company
Fiscal Year End DECEMBER
Legal Location Delaware, United States

Employees

Total Number of Employees 137
Investment Advisory/Research 76
Registered Broker-Dealer Representatives 33
Registered State Investment Advisers 0
Licensed Agents of an Insurance Company 0
No. of Firms/People that Solicit Clients 0

RAUM

Provides Management of Securities Portfolios Yes
Type Accounts RAUM
Discretionary 25 $26.7B
Non-Discretionary 0 $0
Total 25 $26.7B

Clients

Type Number RAUM
Individuals 0 $0
HNW Individuals 10 $160.4M
Banking or thrift institutions <5 $0
Investment companies 3 $23.1B
Business development companies 0 $0
Pooled investment vehicles 1 $48.6M
Pension and profit sharing plans 7 $572.4M
Charitable organizations <5 $160.8M
State or municipal gov entities 9 $801.1M
Other investment advisers <5 $0
Insurance companies <5 $0
Sovereign wealth funds and foreign official institutions <5 $0
Corporations or other businesses <5 $0
Other 14 $1.8B
Type Number
No. of Non-RAUM Clients 30
No. of Non-U.S. Clients 13

Services

Advisory Services Portfolio management for individuals and/or small businessesPortfolio management for investment companiesPortfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clientsPension consulting servicesSelection of other advisers (including private fund managers)Publication of periodicals or newslettersPUBLISH INDICES; PROVIDE DUE DILIGENCE RESEARCH REPORTS
Compensation % of AUMFixed fees
Other Business Activities Commodity pool operator or commodity trading advisor

Identifiers

SEC RIA File Number 801-63344
SEC ERA File Number 801-63344
SEC CIK Numbers 1659851
SEC CRD Numbers 132167
Legal Entity Identifier None

Principal Office

4640 ADMIRALTY WAY
11TH FLOOR
MARINA DEL REY
CA
United States
Monday - Friday, 8:00 AM TO 5:00 PM (PT)
Tel: 310-448-5000, Fax: 310-448-5001

Websites

www.cliffwater.com www.bdcs.com www.cliffwaterfunds.com www.linkedin.com/company/cliffwater www.youtube.com/@cliffwater www.cliffwaterdirectlendingindex.com

Chief Compliance Officer

MICHAEL COWART
477 MADISON AVENUE
16TH FLOOR
NEW YORK
NY
United States
Tel: 332-205-7784
Fax: 310-448-5001
(Full email address available in API data)

Regulatory Contact

JONATHAN ROGAL
SENIOR MANAGING DIRECTOR, GENERAL COUNSEL
4640 ADMIRALTY WAY
11TH FLOOR
MARINA DEL REY
CA
United States
Tel: 310-448-5022
Fax: 310-448-5001
(Full email address available in API data)

Industry Affiliates

None

Private Funds

Name Type Assets $USD Min Investment $USD No. Owners
CLIFFWATER CORPORATE LENDING FUND (OFFSHORE) LTD. FEEDER FUND $48.6M $10.0M 8

Control Persons

Name Type Entity Title Since Ownership
NESBITT, STEPHEN, LANE Individual – CHIEF EXECUTIVE OFFICER 06/2004 25-50%
ROGAL, JONATHAN, ADAM Individual – SENIOR MANAGING DIRECTOR / GENERAL COUNSEL 09/2014 < 5%
JOHNSON, LANCE, JEREMY Individual – CHIEF FINANCIAL OFFICER / CHIEF OPERATIONS OFFICER 09/2014 < 5%
COWART, MICHAEL, BRUCE Individual – CHIEF COMPLIANCE OFFICER 10/2022 < 5%
CW INTERMEDIATE LLC Domestic Entity – MEMBER 09/2023 > 75%
CW PARENT LLC Domestic Entity CW INTERMEDIATE LLC MEMBER 09/2023 > 75%
NESBITT, STEPHEN, LANE Individual CW PARENT LLC MANAGER 10/2023
NESBITT, STEPHEN, B Individual CW PARENT LLC MANAGER 10/2023
CW ROLLOVER LP Domestic Entity CW PARENT LLC MEMBER 09/2023 50-75%
NESBITT, STEPHEN, LANE Individual CW ROLLOVER LP LIMITED PARTNER 10/2023 25-50%
TA CW BUYER LLC Domestic Entity CW PARENT LLC MEMBER 10/2023 25-50%
TA XIV-A, L.P. Domestic Entity TA CW BUYER LLC MEMBER 10/2023 50-75%
TA XIV-B CW SUBSIDIARY PARTNERSHIP, L.P. Domestic Entity TA CW BUYER LLC MEMBER 10/2023 25-50%
TA XIV-B CW BLOCKER CORP. Domestic Entity TA XIV-B CW SUBSIDIARY PARTNERSHIP, L.P. MEMBER 10/2023 > 75%
TA XIV-B, L.P. Domestic Entity TA XIV-B CW BLOCKER CORP. MEMBER 10/2023 > 75%
TA ASSOCIATES XIV GP, L.P. Domestic Entity TA XIV-B CW SUBSIDIARY PARTNERSHIP, L.P. GENERAL PARTNER 10/2023 > 75%
TA ASSOCIATES CAYMAN, LLC Domestic Entity TA ASSOCIATES XIV GP, L.P. GENERAL PARTNER 10/2023 > 75%
BURNS, MICHAEL, ROY Individual CW PARENT LLC MANAGER 10/2023
CROCKETT, TODD, RICHARD Individual CW PARENT LLC MANAGER 10/2023
CW GP ROLLOVER LP Domestic Entity CW ROLLOVER LP GENERAL PARTNER 10/2023

No. Employees, Historic

200100020202021202220232024202544 on 3/27/202044 on 6/26/202044 on 1/28/202154 on 3/26/202154 on 4/28/202186 on 3/29/202286 on 10/12/2022112 on 3/30/2023112 on 7/5/2023112 on 7/5/2023112 on 8/28/2023112 on 11/2/2023112 on 11/2/2023137 on 3/29/2024137 on 3/29/2024

RAUM, Historic

30B15B02020202120222023202420252177144878 on 3/27/20202177144878 on 6/26/20202177144878 on 1/28/20214097380306 on 3/26/20214097380306 on 4/28/202111159222167 on 3/29/202211159222167 on 10/12/202214264206279 on 3/30/202314264206279 on 7/5/202314264206279 on 7/5/202314264206279 on 8/28/202314264206279 on 11/2/202314264206279 on 11/2/202326711555154 on 3/29/202426711555154 on 3/29/2024

No. Clients, Historic

6030020202021202220232024202541 on 3/27/202041 on 6/26/202041 on 1/28/202140 on 3/26/202140 on 4/28/202142 on 3/29/202242 on 10/12/202243 on 3/30/202343 on 7/5/202343 on 7/5/202343 on 8/28/202343 on 11/2/202343 on 11/2/202353 on 3/29/202453 on 3/29/2024

Holdings

From latest 13F, filed August 14th, 2024 for period ending June 30th, 2024
Name Class Value $USD # Shares Private Fund
ARES CAPITAL CORP COM 10M 471K –
BARINGS BDC INC COM 1M 116K –
BLACKROCK TCP CAPITAL CORP COM 4M 364K –
BLACKSTONE SECD LENDING FD COMMON STOCK 5M 157K –
BLUE OWL CAPITAL CORPORATION COM 5M 344K –
CVB FINL CORP COM 7M 412K –
FRANKLIN BSP RLTY TR INC COMMON STOCK 28M 2M –
GOLUB CAP BDC INC COM 2M 158K –
INVESCO EXCH TRADED FD TR II SR LN ETF 124K 6K –
ISHARES TR CORE MSCI EAFE 75K 1K –
ISHARES TR MSCI ACWI EX US 75M 1M –
ISHARES TR MSCI EMG MKT ETF 2M 40K –
ISHARES TR RUSSELL 2000 ETF 246K 1K –
MORGAN STANLEY DIRECT LENDIN COM SHS 48M 2M –
NEW MTN FIN CORP COM 5M 435K –
OAKTREE SPECIALTY LENDING CO COM 3M 141K –
SIXTH STREET SPECIALTY LENDI COM 8M 376K –
SPDR S&P 500 ETF TR TR UNIT 7M 12K –
STELLUS CAP INVT CORP COM 1M 103K –
VANGUARD INDEX FDS REAL ESTATE ETF 6M 70K –
VANGUARD INDEX FDS TOTAL STK MKT 102M 381K –
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 9M 212K –
VANGUARD SCOTTSDALE FDS INTER TERM TREAS 45M 768K –
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 8M 101K –
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 39M 783K –
VANGUARD SCOTTSDALE FDS VNG RUS3000IDX 48M 201K –