cliffwater direct lending index

<< 3610 0 obj /S /P >> endobj /Lang (EN-US) /S /P >> >> >> /K 109 /P 6645 0 R /S /Artifact /S /P endobj endobj 2171 0 obj >> /Pg 25 0 R endobj /Pg 22 0 R endobj /K 77 /K 1427 /P 4964 0 R /P 10 0 R /Pg 23 0 R >> /P 5720 0 R 158 0 R 160 0 R 161 0 R 162 0 R 163 0 R 164 0 R 165 0 R 166 0 R 167 0 R 168 0 R <> endobj endobj 1374 0 obj endobj endobj endobj /Lang (EN-US) /S /P << >> /K 875 /Count 9 /S /P /P 5889 0 R >> << << << 3320 0 obj endobj << << 1529 0 obj endobj /Lang (EN-US) 3311 0 obj << >> /S /Artifact 3897 0 obj /P 5762 0 R << endobj endobj 1521 0 obj 4203 0 obj /S /P << << /K 67 /K 748 /Pg 19 0 R >> >> /K 1367 /S /Artifact /H /I /S /P >> /K 630 /S /P >> /S /P /K 1330 /Lang (EN-US) /Pg 23 0 R /Pg 18 0 R >> /Pg 13 0 R /Pg 22 0 R endobj << << /K 387 >> 378 0 obj >> >> << << /S /Artifact /S /P /Pg 25 0 R /Pg 24 0 R /Lang (EN-US) 1936 0 obj /Pg 23 0 R >> /P 10 0 R /S /P 3642 0 obj 2226 0 obj /S /P /Lang (EN-US) << /Pg 25 0 R endobj /Lang (EN-US) 1296 0 obj >> 4324 0 obj /S /P /Pg 25 0 R /K [58 59 60 61] endobj /K 1121 >> /Lang (EN-US) /Lang (EN-US) /Pg 25 0 R << >> >> >> 3669 0 obj /Lang (EN-US) >> >> /K 1512 /Pg 24 0 R 2498 0 obj /Pg 22 0 R << null 3759 0 R null 3760 0 R null 3761 0 R null null null 3762 0 R endobj endobj /Pg 24 0 R >> /K 1168 >> <> /S /P endobj /K 82 endobj /K 239 /P 5897 0 R /K 1459 /Pg 22 0 R /Lang (EN-US) /P 5292 0 R /P 5668 0 R endobj /P 5778 0 R /K 177 /S /P >> << << >> endobj /K 1458 >> << /Pg 24 0 R endobj /Lang (EN-US) 1530 0 obj endobj endobj << /S /P /Pg 23 0 R /K 556 /K 1353 /Pg 22 0 R /Pg 22 0 R endobj >> /K 786 /S /P 598 0 obj 1408 0 obj << /Lang (EN-US) /K 1261 1838 0 obj /Pg 13 0 R 4150 0 obj >> /P 4849 0 R /Pg 24 0 R >> /K 604 null 1019 0 R null 1020 0 R null null null 1021 0 R null null endobj 1843 0 obj /Lang (EN-US) /K 1438 /K [4588 0 R 4589 0 R 4590 0 R 4591 0 R 4592 0 R 4593 0 R 4594 0 R 4595 0 R 4596 0 R 4597 0 R /Lang (EN-US) 2328 0 obj /S /Artifact /S /Link endobj /S /Artifact endobj /P 6745 0 R /Pg 13 0 R endobj /Lang (EN-US) /P 5815 0 R >> endobj /K 1166 /S /P 3748 0 obj 1511 0 obj /Lang (EN-US) /K 97 /S /P /S /P >> endobj >> 3788 0 obj << /K 1347 Adam Nyhan sur LinkedIn : Corporate Transparency Act Imposes New /S /Artifact 1598 0 obj /P 6455 0 R /K 1267 /S /Artifact >> >> /S /P /P 5393 0 R /Pg 25 0 R 1740 0 R null 1741 0 R null null null 1742 0 R null null null /Lang (EN-US) endobj /P 10 0 R /K 16 /K 967 /S /P /Lang (EN-US) /Lang (EN-US) /Pg 23 0 R <> /P 5120 0 R /P 6421 0 R 1640 0 obj /K 1150 << /K [15 411 0 R 134] /P 4820 0 R 1727 0 obj /Parent 9 0 R endobj /K 445 /S /Artifact >> endobj 2206 0 R 2207 0 R 2208 0 R 2209 0 R 2210 0 R 2211 0 R 2212 0 R 2213 0 R 2214 0 R 2215 0 R /Lang (EN-US) /K 1495 /Pg 23 0 R /K 487 /Pg 23 0 R /P 4813 0 R /Parent 8 0 R >> << /Pg 25 0 R /P 5852 0 R /Pg 23 0 R 3825 0 obj 3531 0 obj 371 0 obj /S /P 3713 0 obj /S /P /S /P /Lang (EN-US) /P 4713 0 R >> /Lang (EN-US) endobj >> /K 522 /P 4977 0 R endobj << 1169 0 obj /Pg 23 0 R 1725 0 obj >> /P 6231 0 R /K 630 << 3262 0 obj /K 1104 >> /Pg 22 0 R /Pg 25 0 R /Pg 22 0 R /Pg 24 0 R endobj endobj >> /P 4924 0 R /S /P /P 10 0 R /Pg 24 0 R << 1624 0 obj 2053 0 obj endobj 2558 0 R null 2559 0 R null 2560 0 R null 2561 0 R null 2562 0 R null /K 156 << /S /Artifact >> /Lang (EN-US) endobj /K 1192 /K 1487 /Lang (EN-US) >> endobj /S /Artifact endobj 3454 0 obj /P 6680 0 R 3122 0 obj /S /P 3425 0 obj 2620 0 obj /Pg 24 0 R << >> /Pg 23 0 R 430 0 obj /Pg 25 0 R /Pg 24 0 R /Pg 22 0 R /S /P endobj >> /K 1519 /Lang (EN-US) >> /K 1259 /K 165 endobj /K 1261 /P 5444 0 R /S /P >> /S /P /S /P /S /Artifact >> 2174 0 obj /P 5542 0 R /S /Artifact 498 0 obj << endobj /Pg 23 0 R >> /Pg 25 0 R << >> 495 0 R null 496 0 R null 497 0 R null 498 0 R 499 0 R 500 0 R null << /K 1316 /K 1161 /Lang (EN-US) /K 632 endobj >> /K 1079 >> /P 6612 0 R /P 10 0 R endobj endobj /P 10 0 R /Pg 23 0 R >> 2943 0 R null 2944 0 R null 2945 0 R null 2946 0 R 2947 0 R null 2948 0 R /P 6338 0 R /S /Artifact << /Pg 24 0 R /S /Artifact << /Pg 23 0 R /K 1489 << << /K 6 /K 1316 /S /Artifact 2755 0 obj /P 5601 0 R << /K 913 190 0 obj /Pg 22 0 R endobj 1178 0 R 1179 0 R 1180 0 R 1181 0 R 1182 0 R 1183 0 R 1184 0 R 1185 0 R 1186 0 R 1187 0 R /S /Artifact /P 10 0 R /S /P >> /S /Artifact /S /Artifact /Pg 25 0 R 1476 0 obj 663 0 obj << /S /P /S /P 823 0 obj endobj /K 1459 /Pg 24 0 R /P 10 0 R /Lang (EN-US) endobj /S /Artifact /K 821 endobj >> 3213 0 obj 191 0 R 192 0 R 194 0 R 196 0 R 197 0 R 198 0 R 199 0 R 200 0 R null null /K 1401 /S /P /P 6104 0 R >> /K 71 3911 0 obj /P 5846 0 R << 1193 0 obj >> endobj 2514 0 obj 1946 0 obj /Lang (EN-US) >> /Pg 24 0 R << endobj /K 41 endobj endobj 1087 0 obj endobj /K 597 /K 794 endobj 3210 0 obj /Pg 23 0 R >> << /Lang (EN-US) endobj /Pg 24 0 R >> /K 1183 446 0 obj Is Private Credit a Bubble, or Just a Little Frothy? /Resources 4385 0 R << >> /P 90 0 R /P 10 0 R /S /P endobj /K 170 3696 0 obj /S /P 3011 0 obj /P 4703 0 R 1136 0 obj 1758 0 obj endobj /K 587 << 2780 0 obj /Lang (EN-US) /Pg 24 0 R 169 0 obj endobj << /K 1174 /K 1274 /K 518 /P 5654 0 R 4176 0 obj /Pg 24 0 R << /S /P /S /Artifact /K 1084 endobj 236 0 obj 727 0 obj << >> /K 28 2752 0 obj /K 136 endobj 111 0 R 107 0 R 107 0 R 107 0 R 107 0 R 107 0 R 133 0 R 133 0 R 133 0 R 133 0 R /K 46 1056 0 obj /K 153 /Pg 24 0 R /S /P 3268 0 obj << 1466 0 obj /Resources 4356 0 R <> 2660 0 obj 1033 0 obj endobj /S /P /S /P << >> /S /P << << 2349 0 obj <> /K 395 2140 0 obj >> 310 0 obj /S /Artifact /K 1315 /K 769 /Pg 25 0 R >> /K 30 /S /P /Lang (EN-US) /S /P /K 125 /P 5800 0 R /K 64 /Lang (EN-US) 2051 0 obj /S /Artifact >> endobj /S /Figure /S /Artifact /Pg 25 0 R << PDF Figure 1 - meketa.com /K 1137 /S /P /K 84 /S /P /K 1404 endobj >> endobj 1168 0 obj /Pg 23 0 R /P 6229 0 R /Pg 24 0 R /Pg 23 0 R endobj 937 0 obj /S /P >> /StructParents 9 endobj >> endobj 1816 0 obj 1398 0 obj endobj /P 6673 0 R /Lang (EN-US) << /Rect [449.6000061035 546.3229980469 451.7309875488 554.9949951172] endobj /K 92 >> Direct Lending Download View Private Debt Research << /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) endobj 2646 0 obj /Lang (EN-US) << endobj /S /Artifact /P 5459 0 R << >> << endobj 1796 0 obj /Lang (EN-US) /S /P /S /P /Lang (EN-US) << /A 4460 0 R /Pg 18 0 R /K 1131 /A 4671 0 R /Pg 25 0 R 2483 0 obj >> 2834 0 obj %PDF-1.6 /Lang (EN-US) 965 0 obj /P 6523 0 R /K 179 >> 3780 0 R 3781 0 R null 3782 0 R null 3783 0 R null 3784 0 R null 3785 0 R >> /Lang (EN-US) 1536 0 obj << 3275 0 obj /P 6639 0 R >> /P 5801 0 R endobj /S /Artifact >> /S /Artifact /K 98 /K 1313 /K 1318 >> /Pg 25 0 R /K 1295 3766 0 obj /Pg 24 0 R 3601 0 obj /S /P 1702 0 obj /P 4827 0 R /Lang (EN-US) /S /P /P 4821 0 R /S /P /K 1524 endobj endobj endobj >> >> << << /K 1098 /S /P >> /Pg 24 0 R /Pg 23 0 R /Pg 23 0 R /Pg 23 0 R 4294 0 R 4295 0 R 4296 0 R 4297 0 R 4298 0 R 4299 0 R 4300 0 R 4301 0 R 4302 0 R 4303 0 R endobj /Pg 19 0 R /Pg 23 0 R /S /P >> /K 503 1938 0 obj We are proactive with our advice and recommendations to clients so they may achieve desired outcomes. /K 1126 /S /P >> /Pg 23 0 R /Pg 25 0 R endobj /Pg 24 0 R /S /Artifact >> /Lang (EN-US) << /Lang (EN-US) endobj /Lang (EN-US) << /Pg 26 0 R /K 799 endobj /K 998 /Lang (EN-US) /Pg 23 0 R >> endobj /S /P << endobj /K 1545 >> endobj /K 1228 /Pg 22 0 R /StructParent 15 /P 6061 0 R /Pg 22 0 R << <> /P 5980 0 R 2264 0 obj /Lang (EN-US) endobj >> /K 816 /S /P /Lang (EN-US) << 769 0 obj /Pg 22 0 R 1010 0 obj /Pg 25 0 R /P 5354 0 R 510 0 obj >> 1966 0 obj /Pg 23 0 R endobj 2022 0 obj >> 2167 0 obj 1639 0 obj << << << /Lang (IT-IT) /Lang (EN-US) << >> endobj /K 1243 endobj /Pg 25 0 R << >> /S /P /S /P endobj /K 1280 endobj /K 1495 /K 14 857 0 obj /S /P 1248 0 obj /P 6262 0 R /S /P /Pg 22 0 R /K 274 /K 1391 /K 1067 /P 6335 0 R >> endobj << 1220 0 obj /S /Artifact /S /Artifact /S /P endobj endobj endobj /Pg 22 0 R 2404 0 obj >> /Pg 23 0 R 4019 0 obj /K 34 /P 5352 0 R endobj << /S /P >> /S /Artifact endobj /Lang (EN-US) /Pg 21 0 R 2285 0 obj >> /Pg 24 0 R /Pg 24 0 R /Pg 23 0 R /S /P stream << endobj /Pg 22 0 R 2407 0 obj /P 6159 0 R /S /Artifact /Lang (EN-US) /S /Artifact << >> /Lang (EN-US) /Pg 22 0 R endobj /Pg 23 0 R /Pg 25 0 R /K 1040 /K 16 >> 1465 0 R 1466 0 R 1467 0 R 1468 0 R 1469 0 R 1470 0 R 1471 0 R 1472 0 R 1473 0 R 1474 0 R /S /Artifact 1441 0 obj /P 5277 0 R /Lang (EN-US) null 3603 0 R null 3604 0 R null 3605 0 R null 3606 0 R null 3607 0 R null 1992 0 R null 1993 0 R 1994 0 R null 1995 0 R null 1996 0 R null /P 10 0 R /P 6590 0 R endobj >> << /S /P 3836 0 obj 3536 0 obj /K 626 2609 0 obj /Lang (EN-US) >> /K 28 /K 643 >> endobj /S /Artifact 32 0 obj /S /Artifact /P 4946 0 R /Pg 24 0 R /Pg 23 0 R PDF The Cliffwater Direct Lending Index - storage.googleapis.com /K 1283 << 4024 0 obj /K 1127 endobj << <> 631 0 obj >> << /K 1421 << 3127 0 R 3128 0 R 3129 0 R 3130 0 R 3131 0 R 3132 0 R 3133 0 R 3134 0 R 3135 0 R 3136 0 R /K 616 endobj 1922 0 obj >> /Lang (EN-US) 1228 0 R 1229 0 R 1230 0 R 1231 0 R 1232 0 R 1233 0 R 1234 0 R 1235 0 R 1236 0 R 1237 0 R /S /Artifact /S /Artifact 2447 0 obj 2516 0 obj endobj endobj /P 5795 0 R /K 59 /S /P /S /P endobj /K 34 /S /P /S /P >> 1260 0 obj << /K 1240 /Lang (EN-US) /S /P endobj << /Lang (EN-US) >> /K 1006 /S /Artifact /Lang (EN-US) /Pg 24 0 R /Pg 23 0 R << /Pg 24 0 R /Pg 25 0 R /S /P 2836 0 obj endobj endobj /S /P endobj endobj /K 1438 endobj 280 0 obj /Pg 22 0 R /Pg 23 0 R /Lang (EN-US) endobj /K 1212 /Lang (EN-US) << /S /Artifact << >> endobj endobj /Pg 25 0 R /P 4913 0 R 4247 0 obj >> >> /P 10 0 R endobj /P 5228 0 R << >> /P 6026 0 R << >> /K 846 << << 3319 0 obj << /S /Artifact /S /P 1217 0 obj /S /Artifact endobj /K 1355 endobj /Pg 25 0 R /S /Artifact /Pg 24 0 R 2577 0 obj /S /P << >> /S /Artifact /K 38 >> << 3904 0 obj 2927 0 obj /S /Artifact /K 1199 2878 0 obj 2547 0 obj endobj endobj 3423 0 obj /Pg 23 0 R /K 1190 /Lang (EN-US) >> >> /K 1440 4283 0 obj /Pg 23 0 R /P 10 0 R endobj /K 202 /Lang (EN-US) /S /P /K 2 /P 5031 0 R /Pg 23 0 R 4143 0 obj /K 34 endobj /S /P 2266 0 obj /Pg 22 0 R /Pg 25 0 R endobj /Lang (EN-US) >> /Pg 25 0 R endobj << endobj /S /P /Pg 23 0 R >> /S /P << /K 1457 >> /P 10 0 R >> >> null 2621 0 R null 2622 0 R null null null 2623 0 R null null /Lang (EN-US) endobj 933 0 obj 58 0 obj 3919 0 obj endobj /Pg 23 0 R /S /P 3483 0 obj endobj << endobj /K 230 /Pg 24 0 R >> /K 1213 /Pg 18 0 R /P 6219 0 R endobj /Pg 24 0 R /K 1291 >> /Pg 25 0 R endobj endobj /K 1396 /Annotation /Span /Pg 25 0 R endobj 1492 0 obj 3886 0 obj /Lang (EN-US) << endobj 4261 0 obj /Pg 22 0 R endobj endobj << endobj 2011 0 obj /Lang (EN-US) << << <> endobj endobj endobj /P 6208 0 R /Pg 18 0 R >> << << /S /Artifact /Lang (EN-US) /Lang (EN-US) 337 0 R 338 0 R 339 0 R 340 0 R 341 0 R 342 0 R 343 0 R 344 0 R 345 0 R 346 0 R /K 1345 /Pg 22 0 R >> /Pg 18 0 R /S /P /K 1259 >> /Lang (EN-US) 2730 0 obj /K 1144 /Pg 25 0 R >> /S /P /K 1307 endobj endobj << /S /Artifact >> endobj endobj >> /Lang (EN-US) << endobj << 1929 0 R null 1930 0 R null 1931 0 R null 1932 0 R null 1933 0 R 1934 0 R /Pg 25 0 R /K 1293 >> /Pg 24 0 R >> endobj /Pg 25 0 R 3795 0 obj endobj 2537 0 obj >> >> /K 533 2238 0 obj << /S /Artifact /Lang (EN-US) /P 10 0 R /S /P >> /K 19 /S /P 677 0 R null 678 0 R null 679 0 R null null null 680 0 R null /K 30 endobj /Pg 25 0 R /Pg 24 0 R /P 6146 0 R << /Lang (EN-US) /Lang (EN-US) >> endobj /P 6095 0 R 433 0 obj endobj /S /Artifact /K 1490 << /S /Artifact /P 5365 0 R null 3669 0 R null 3670 0 R null 3671 0 R null 3672 0 R 3673 0 R null << endobj /Pg 23 0 R << 1249 0 obj 3722 0 obj /K [39 4680 0 R] << null 3887 0 R null 3888 0 R 3889 0 R null 3890 0 R null 3891 0 R null /S /P /Pg 25 0 R /K 1251 /P 4694 0 R << /K 589 >> >> 3438 0 obj /S /Artifact << << >> << >> 3627 0 obj /S /Artifact /S /P /Lang (EN-US) >> /Pg 25 0 R >> 773 0 obj 3785 0 obj << /Pg 25 0 R << endobj /Pg 23 0 R >> endobj >> /Lang (EN-US) /Pg 17 0 R /K 1520 << >> /P 5455 0 R /K 1314 /K 849 /K 1452 >> endobj /S /Artifact << /Lang (EN-US) /Pg 24 0 R 2313 0 obj endobj endobj /S /Artifact /Pg 24 0 R endobj /Pg 22 0 R /Lang (EN-US) /P 6225 0 R << >> 11 [311 0 R null 313 0 R null 1546 0 R null null 1547 0 R null null << endobj /P 4971 0 R 2093 0 obj endobj /P 4698 0 R /S /P /K 218 /S /P endobj 238 0 obj /Pg 15 0 R /K 846 null 1566 0 R null 1567 0 R null 1568 0 R 1569 0 R null 1570 0 R null /Tabs /S /K 965 << /K 179 /S /Artifact >> endobj /S /Artifact /S /P endobj /S /Artifact /S /Artifact /Pg 22 0 R /Lang (EN-US) endobj /Pg 25 0 R << << 2539 0 obj /P 4633 0 R /K 1536 1182 0 obj /Pg 24 0 R 1823 0 obj 3099 0 obj /P 5201 0 R /S /Artifact /K 11 endobj endobj endobj /Pg 22 0 R << 194 0 obj 2568 0 obj /K 116 311 0 obj endobj >> /Pg 23 0 R 2976 0 obj /S /Artifact endobj >> /P 4658 0 R /K 935 endobj 3002 0 obj /Lang (EN-US) << >> /S /P << /Pg 22 0 R /Lang (EN-US) /Lang (EN-US) << /S /P 1675 0 obj /Pg 15 0 R >> /K 48 /P 5587 0 R /Pg 23 0 R /P 5000 0 R /P 6365 0 R 2945 0 obj >> /P 5394 0 R /P 6374 0 R /S /Artifact 2076 0 R 2077 0 R 2078 0 R 2079 0 R 2080 0 R 2081 0 R 2082 0 R 2083 0 R 2084 0 R 2085 0 R << 3187 0 obj >> /S /P /Pg 22 0 R /Pg 24 0 R /S /Artifact /Pg 23 0 R /K 1357 >> /Lang (EN-US) endobj << /Pg 23 0 R endobj /P 10 0 R /P 4644 0 R >> /Lang (EN-US) 3073 0 obj /K 1513 endobj /S /P << << endobj >> /Parent 9 0 R endobj endobj /S /P /K 1418 /K 397 /K 1297 /Lang (EN-US) <> << /Pg 23 0 R null 3816 0 R 3817 0 R null 3818 0 R null 3819 0 R null 3820 0 R null >> 261 0 R null null null 232 0 R 232 0 R 232 0 R 232 0 R 232 0 R 232 0 R /S /P /K 1537 2696 0 obj /K 13 /P 5981 0 R /K 831 /S /P /Pg 25 0 R /K 326 /S /Artifact endobj << >> /P 6295 0 R >> /Pg 24 0 R >> 1804 0 obj /K 1331 << endobj /Pg 23 0 R /K 867 /P 5609 0 R /P 5262 0 R /Lang (EN-US) 3504 0 obj /P 4865 0 R /Lang (EN-US) endobj endobj 1254 0 obj /Pg 18 0 R /Pg 23 0 R 1777 0 obj << >> /S /P >> /S /Artifact << /P 10 0 R /K 203 /A 4397 0 R /K 1232 /Pg 25 0 R /P 10 0 R /S /Artifact /S /Artifact 1611 0 obj Consistent floating-rate income with low volatility - Cliffwater launched CCLFX as an opportunity to track the Cliffwater Direct Lending Index (CDLI) /S /P 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 2353 0 obj >> <> >> /Lang (EN-US) /Pg 18 0 R /S /Artifact /P 6713 0 R endobj 3989 0 obj endobj /S /P >> /K 261 2681 0 obj >> endobj endobj endobj /Pg 23 0 R << CDLI Quote - Cliffwater Direct Lending Index - Total Return - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Asia Bloomberg Daybreak Asia. 3918 0 obj /Pg 23 0 R /S /Artifact endobj endobj /K 79 /S /Artifact endobj endobj >> /P 5530 0 R <> /S /P /S /P << endobj endobj /Lang (EN-US) << /Pg 24 0 R 3354 0 obj /Lang (EN-US) /S /Artifact << >> >> 355 0 obj 1146 0 obj >> /P 6141 0 R endobj >> << >> >> /Pg 24 0 R /P 5239 0 R 3048 0 obj >> /Pg 23 0 R << /Pg 18 0 R <> CLIFFWATER and the CLIFFWATER LLC logo are trademarks of Cliffwater LLC. >> 2329 0 obj >> 4273 0 obj /K 1536 /K 2 /Lang (EN-US) >> /S /Artifact /K 8 >> 3234 0 R 3235 0 R 3236 0 R 3237 0 R 3238 0 R 3239 0 R 3240 0 R 3241 0 R 3242 0 R 3243 0 R /S /P /P 5114 0 R /S /Artifact >> 829 0 obj /K 1021 /K 97 >> << <> << /K 123 /Pg 22 0 R endobj /Lang (EN-US) >> endobj /P 6512 0 R /Pg 25 0 R >> endobj /S /Artifact /Pg 13 0 R endobj /K 370 /Lang (EN-US) /P 6569 0 R /K 129 /A 4747 0 R >> /S /Artifact /S /Artifact >> 318 0 obj /S /P /Pg 25 0 R /Lang (EN-US) endobj endobj /S /Artifact /Lang (EN-US) << endobj /K 410 /K 1159 >> /S /P << 2097 0 obj null null null 3763 0 R null 3764 0 R null 3765 0 R null 3766 0 R /P 5189 0 R /P 6756 0 R >> 2891 0 obj /P 5679 0 R 615 0 obj As of December 31, 2021. endobj /Lang (EN-US) /K 1550 endobj << /S /Artifact endobj /Pg 20 0 R >> /K 904 /Lang (EN-US) /K 371 << >> 411 0 obj /Pg 24 0 R endobj <> /S /P /Lang (EN-US) /S /P /Pg 23 0 R First, the Cliffwater Direct Lending Index provides a benchmark for measuring risk, return, and manager performance in direct lending instruments. endobj /P 5589 0 R endobj endobj << /S /P << /Lang (EN-US) endobj << /K 666 << endobj /Lang (EN-US) endobj /K 1504 /Pg 19 0 R >> << /Pg 25 0 R /P 4648 0 R endobj /S /P endobj 2693 0 obj << /K 1129 /K 1364 endobj /K 511 endobj /K 612 /K 1201 /S /P /Pg 24 0 R << << /S /Artifact null null null 3408 0 R null null null 3409 0 R null 3410 0 R /S /P endobj 223 0 obj /S /Artifact 2025 0 obj /Lang (EN-US) /Pg 23 0 R 1138 0 obj /K 734 << << /S /P /P 33 0 R /Lang (EN-US) /Pg 22 0 R 346 0 obj >> << /Pg 24 0 R >> /Lang (EN-US) /K 10 /Pg 23 0 R endobj /Pg 13 0 R /Pg 16 0 R /Pg 24 0 R /K 1150 3678 0 obj >> endobj /P 5672 0 R /Pg 13 0 R /Pg 23 0 R /Pg 23 0 R endobj /S /Artifact 454 0 obj /Pg 24 0 R /Tabs /S /Pg 25 0 R endobj endobj 3303 0 obj endobj 2952 0 obj /P 6495 0 R null 1916 0 R null 1917 0 R null 1918 0 R null 1919 0 R null 1920 0 R >> 3802 0 R null 3803 0 R null 3804 0 R 3805 0 R null 3806 0 R null 3807 0 R endobj >> /Pg 22 0 R /S /Artifact /K 11 /K 495 endobj /K 1165 >> /Lang (EN-US) >> >> >> 2229 0 obj 1916 0 obj << /Lang (EN-US) /Pg 22 0 R 618 0 obj 1300 0 obj /Pg 22 0 R endobj endobj endobj /P 5439 0 R >> << /K 10 0 R /S /Artifact 1525 0 obj >> << 546 0 obj 3298 0 obj /S /Artifact >> /S /P 1423 0 obj /P 6261 0 R 831 0 obj /K 1020 /K 961 /K 1110 /S /P /K 1425 /Pg 24 0 R >> /S /Artifact endobj /Pg 24 0 R >> >> /K 1324 endobj endobj << /Pg 22 0 R >> /K 755 2283 0 R 2284 0 R 2285 0 R 2286 0 R 2287 0 R 2288 0 R 2289 0 R 2290 0 R 2291 0 R 2292 0 R << /S /P /S /P /S /P /K 142 >> /K 73 /Lang (EN-US) 4196 0 obj /Lang (EN-US) /Lang (EN-US) /Pg 18 0 R 193 0 obj /K 74 /K 1432 << >> endobj << /Lang (EN-US) 1030 0 obj /K 632 /K 457 /Pg 22 0 R endobj >> >> >> endobj null 811 0 R null null null 812 0 R null null null 813 0 R /P 6568 0 R /Pg 25 0 R /Lang (EN-US) /K 86 /K 10 /S /P /P 10 0 R /Pg 25 0 R /P 6366 0 R 3127 0 obj endobj endobj /Lang (EN-US) /K 543 /Lang (EN-US) /Pg 25 0 R 3779 0 obj /K 686 /Pg 24 0 R endobj /P 6377 0 R << << /K 828 /A 4429 0 R >> /P 10 0 R /S /Artifact >> << /Pg 22 0 R << endobj /K 138 /K 1397 >> /Lang (EN-US) 408 0 obj <> endobj /K 1134 /K 1114 >> >> endobj 1215 0 obj /S /Artifact null 1098 0 R null 1099 0 R 1100 0 R null 1101 0 R null 1102 0 R null << endobj >> >> 384 0 obj 2754 0 obj >> /S /P >> 1459 0 obj /Tabs /S /S /P /K 4 >> /Lang (EN-US) 2923 0 obj 3300 0 obj /Pg 26 0 R /Pg 22 0 R << /S /P 188 0 obj >> /S /Artifact 83 0 obj null 2580 0 R null 2581 0 R 2582 0 R null 2583 0 R null 2584 0 R null 3729 0 obj >> /Pg 25 0 R /S /Artifact 3694 0 obj /S /Artifact endobj /Kids [18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R 25 0 R 26 0 R] 2701 0 obj /K 809 /K 844 /Lang (EN-US) << 3063 0 obj 1176 0 obj >> /Lang (EN-US) endobj 3710 0 obj /Lang (EN-US) /Lang (EN-US) 266 0 obj /Pg 24 0 R >> << >> /P 5053 0 R /Pg 23 0 R 2021 Q2 Report on U.S. Direct Lending - Cliffwater /Pg 24 0 R /Tabs /S endobj /S /P /Pg 19 0 R /K 1351 /K 603 /S /Artifact >> /K 1126 endobj /S /Artifact endobj /S /P /Pg 25 0 R endobj /K 1473 /K 1113 4297 0 obj endobj /Lang (EN-US) << /Lang (EN-US) /Pg 23 0 R 1784 0 obj 3588 0 obj 2300 0 obj /Pg 14 0 R /S /P /K 759 /Lang (EN-US) 321 0 obj /P 6361 0 R /K 728 endobj /Pg 24 0 R /Pg 23 0 R /Pg 24 0 R /K 1349 endobj endobj /K 283 /S /Artifact /S /P 3692 0 obj << /S /Artifact << /K 1137 endobj << /Pg 24 0 R 2767 0 obj >> /Pg 25 0 R /K 223 << >> /P 5336 0 R /Pg 25 0 R endobj /Pg 22 0 R /Pg 24 0 R 2014 0 obj /Lang (EN-US) /Pg 22 0 R << /Pg 18 0 R /Pg 17 0 R /Lang (EN-US) /P 6397 0 R endobj /S /Artifact /P 6747 0 R /Lang (EN-US) endobj /S /Artifact /P 6452 0 R endobj endobj /K 1373 /S /P <> /S /P >> /S /P >> endobj /S /P 341 0 obj /S /Artifact /Pg 25 0 R /K 1170 endobj 3039 0 obj Loan Note: Credit cycle takes a turn; ESG due diligence template nears << /K 449 /Pg 23 0 R /S /P /K 67 /Pg 25 0 R << /Lang (EN-US) /Pg 24 0 R 399 0 R 400 0 R 401 0 R 402 0 R 403 0 R 404 0 R 405 0 R 406 0 R 407 0 R 408 0 R /S /Artifact null null null null null null null null null null << /S /P