cliffwater direct lending index

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their exposure to private credit at a time when the same economic factors are threatening to slow transaction. /K 1084 /P 4652 0 R endobj /K 933 << /A 4749 0 R << endobj endobj >> << Cliffwater Direct Lending Fund (the " Fund ") is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the "Investment Company Act"), and organized as a Delaware statutory trust. 3484 0 obj /Pg 23 0 R 2226 0 obj /S /P /Pg 23 0 R /Lang (EN-US) >> >> /Resources 4350 0 R /Pg 25 0 R 3129 0 obj >> 1480 0 obj /K 1290 endobj << /Pg 25 0 R endobj /Pg 22 0 R /Lang (EN-US) /K 198 >> endobj /S /Artifact endobj >> << 1098 0 obj /Lang (EN-US) /Lang (EN-US) << /Lang (EN-US) << /P 10 0 R endobj >> /Lang (EN-US) /K 1404 endobj 3809 0 obj /Pg 21 0 R 3007 0 R 3008 0 R 3009 0 R 3010 0 R 3011 0 R 3012 0 R 3013 0 R 3014 0 R 3015 0 R 3016 0 R /P 4860 0 R endobj /P 5512 0 R 3031 0 obj >> >> /Lang (EN-US) 2538 0 obj endobj >> >> /Pg 18 0 R endobj /Pg 24 0 R /Lang (EN-US) << << 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(EN-US) << /Lang (EN-US) >> /K 1476 endobj /K 1483 1545 0 R] /S /Artifact << /Lang (EN-US) << /K 1541 449 0 obj 1899 0 R null 1900 0 R null 1901 0 R null 1902 0 R null null null 2281 0 obj /K 559 /S /P /Lang (EN-US) << << << endobj 1814 0 obj endobj endobj Index data stretches back to September of 2004. >> 2116 0 R 2117 0 R 2118 0 R 2119 0 R 2120 0 R 2121 0 R 2122 0 R 2123 0 R 2124 0 R 2125 0 R 1071 0 obj 37 0 obj << /P 6287 0 R /P 6574 0 R /S /P 1318 0 obj >> /Lang (EN-US) << /K 372 /Lang (EN-US) /S /P endobj 1861 0 obj /S /Artifact /S /Artifact >> 1841 0 obj /Lang (EN-US) >> 1790 0 obj /S /P /K 897 /K 162 /Lang (EN-US) /P 5254 0 R /Pg 22 0 R /Pg 23 0 R >> /Pg 22 0 R 15 410 0 R 16 411 0 R 17 412 0 R 18 419 0 R 19 431 0 R 1948 0 obj << << /S /P 3597 0 obj << /Pg 19 0 R 3327 0 obj /Tabs /S >> /S /Artifact /S /P /Pg 25 0 R << endobj /Pg 21 0 R endobj << endobj /S /P >> /Pg 24 0 R endobj endobj /K 1433 /Pg 25 0 R /Pg 24 0 R << /Lang (EN-US) /S /Artifact /S /Artifact /Pg 23 0 R null 1916 0 R null 1917 0 R null 1918 0 R null 1919 0 R null 1920 0 R endobj 383 0 obj /P 5813 0 R /Pg 22 0 R << /Lang (EN-US) /K 871 >> endobj /Pg 14 0 R /K 1473 >> /Lang (EN-US) /S /Footnote 899 0 obj /Pg 25 0 R 3320 0 obj 2884 0 obj >> << /P 5731 0 R /P 5551 0 R << /P 5261 0 R Their interest has been fueled by an appetite for floating rate income streams; the attractiveness of a senior secured creditor position; and a need for reduced correlation among . >> 1053 0 obj endobj >> /Lang (EN-US) /P 5043 0 R >> 1449 0 obj << /K 929 /K 1200 /Lang (EN-US) << 1465 0 obj 1429 0 obj << 715 0 obj endobj /K 1136 /Lang (EN-US) /P 6321 0 R endobj /P 10 0 R /K 76 /P 5562 0 R /S /Artifact 336 0 obj endobj 3435 0 obj 3053 0 obj endobj /K 487 /Pg 22 0 R 2554 0 obj /K 1441 /Pg 25 0 R endobj endobj /Pg 25 0 R endobj endobj /K 484 << null 568 0 R null null null null null null null null /S /Artifact >> /P 5822 0 R endobj /K 1464 /S /P /Lang (EN-US) >> << << >> /S /Artifact /Pg 24 0 R /S /Artifact /K 1046 /Lang 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(EN-US) >> >> /Pg 25 0 R /P 5650 0 R null 1027 0 R 1028 0 R null 1029 0 R null 1030 0 R null 1031 0 R null << /S /Artifact /Pg 22 0 R << 526 0 R null 527 0 R 528 0 R null 529 0 R 530 0 R null 531 0 R null /S /Artifact >> << /S /Artifact << /Pg 24 0 R 3902 0 obj 4 The way many of the style indices are constructed is to split the core index into two parts. /K 1237 /P 4751 0 R endobj >> 3029 0 obj /K 1146 endobj /S /P /S /P << /Pg 22 0 R /K 40 << /K 352 /P 6396 0 R /K 1176 >> /Pg 20 0 R /S /P << /Pg 20 0 R << /K 717 /S /Artifact endobj 2443 0 R 2444 0 R 2445 0 R 2446 0 R 2447 0 R 2448 0 R 2449 0 R 2450 0 R 2451 0 R 2452 0 R /Pg 23 0 R << << /S /Artifact << endobj 280 0 obj 62 0 obj >> endobj >> 3134 0 obj >> /K 1479 356 0 obj >> 1404 0 obj /K 445 >> >> /K 1132 << /Pg 25 0 R /Pg 25 0 R 2809 0 obj /Lang (EN-US) /S /P /Lang (EN-US) /S /Artifact /Pg 22 0 R /S /Artifact endobj /Pg 23 0 R endobj >> 2109 0 obj << /Lang (EN-US) /S /Artifact /S /Artifact /P 5944 0 R >> >> /Lang (EN-US) /K 14 /K 1455 endobj /S /Artifact /K 1432 /K 606 >> >> /P 4437 0 R endobj /Pg 22 0 R << /Lang (EN-US) /Pg 22 0 R 1651 0 obj 1198 0 obj /K 13 /K 1317 << /K 582 3294 0 obj << >> endobj 717 0 obj /Pg 23 0 R >> 1301 0 obj /K 1013 << 1865 0 obj 3867 0 obj >> 1336 0 R 1336 0 R 1337 0 R 1338 0 R 1339 0 R 1340 0 R 1341 0 R 1342 0 R 1343 0 R 1344 0 R 4021 0 obj /Pg 22 0 R endobj 3603 0 obj endobj /P 10 0 R /K 298 >> 2674 0 obj /K 1104 1170 0 obj endobj >> >> endobj 3820 0 obj >> /Pg 25 0 R << /K 514 endobj endobj /K 909 /Pg 13 0 R /P 4754 0 R /S /P 4223 0 obj << 3279 0 obj /P 6539 0 R /Pg 25 0 R /Pg 22 0 R >> /K 984 /A 4663 0 R >> << /K 341 /P 10 0 R << << >> /Lang (EN-US) /K [560 0 R 539 0 R] >> /K 27 /Pg 24 0 R 87 0 R 88 0 R 89 0 R 90 0 R 91 0 R 92 0 R 93 0 R 94 0 R 95 0 R 96 0 R /S /Artifact /Lang (EN-US) /Pg 26 0 R /Pg 23 0 R << >> /P 5466 0 R /P 6725 0 R endobj endobj << >> /Pg 14 0 R 3547 0 obj /Pg 25 0 R >> << >> /Lang (EN-US) >> /K 940 << /K 1521 endobj /Lang (EN-US) >> /Pg 22 0 R /K 738 /K 1308 /P 10 0 R << /K 295 endobj << << endobj /Lang (EN-US) 1694 0 obj /S /P << /S /Figure endobj << >> >> /K 298 /Pg 22 0 R << /Pg 22 0 R /S /P /Lang (EN-US) endobj /S /Artifact endobj /StructParents 2 /S /P endobj /Pg 22 0 R >> /Lang (EN-US) /K 678 /K 1363 1926 0 R null null null 1927 0 R null null null 1928 0 R null /Pg 22 0 R 1697 0 obj /K 1093 endobj /K 66 /S /P << 252 0 obj endobj >> << 3937 0 R 3938 0 R 3939 0 R 3940 0 R 3941 0 R 3942 0 R 3943 0 R 3944 0 R 3945 0 R 3946 0 R 1765 0 obj 1291 0 obj 1852 0 obj /Type /Page /S /Artifact /Pg 23 0 R /K 1146 3466 0 obj << 4290 0 obj >> /S /P << >> /S /Artifact /CropBox [0 0 612 792] null null 357 0 R null null null null null 358 0 R null /S /P >> null 3789 0 R null 3790 0 R null 3791 0 R null 3792 0 R 3793 0 R null /Lang (EN-US) /Pg 22 0 R /S /P endobj << /Pg 24 0 R /S /P 3242 0 obj endobj /K 1 4285 0 obj >> /S /P >> 4204 0 obj /Lang (EN-US) /Pg 25 0 R >> endobj /P 6411 0 R /K 576 /K 1164 2959 0 obj /S /P >> >> << /K 900 endobj endobj null null null 837 0 R null 838 0 R null 839 0 R null 840 0 R /Pg 17 0 R /K 395 /K 43 >> >> >> /S /Artifact endobj /S /P /Pg 22 0 R /Pg 25 0 R endobj /P 6508 0 R /Pg 24 0 R endobj /Pg 24 0 R /K 137 /Pg 20 0 R /Lang (EN-US) >> /Lang (EN-US) /K 795 /Lang (EN-US) /P 5917 0 R /Pg 24 0 R /Lang (EN-US) 1725 0 obj /Lang (EN-US) >> /Pg 22 0 R /S /P 895 0 obj /Pg 22 0 R >> << /Pg 24 0 R 4071 0 obj 122 123 124] /S /P /S /Artifact 3228 0 obj null 565 0 R null null null 566 0 R null null null 567 0 R >> >> /S /P /K 225 /Pg 22 0 R endobj endobj 4144 0 obj 156 0 obj /P 4903 0 R 1891 0 obj endobj /P 5836 0 R /S /P /Pg 23 0 R << 1614 0 obj 2951 0 obj /Lang (EN-US) /Lang (EN-US) >> 1035 0 R null 1036 0 R null 1037 0 R null 1038 0 R null 1039 0 R 1040 0 R /P 6234 0 R /S /P /K 714 3042 0 obj /K 73 endobj endobj /P 10 0 R /P 6257 0 R /S /P endobj /P 6432 0 R /Pg 18 0 R /Lang (EN-US) >> /S /P /K 1356 /S /P /Lang (EN-US) /K 1461 endobj >> /Lang (EN-US) /K 333 << endobj >> << /P 6285 0 R /Pg 23 0 R /S /P /S /Artifact /S /Artifact endobj /Lang (EN-US) /P 5101 0 R << /S /Artifact /K 113 1498 0 obj /S /P 740 0 obj /Lang (EN-US) /Pg 24 0 R << /Pg 23 0 R /Pg 22 0 R << Alex Condrell, managing director at Cliffwater discusses the firm's direct lending index and corporate lending fund and how investments in middle-market corporate credit should stand up to the challenges of rising inflation and interest rates, providing something close to historic return levels of 9 percent for the asset class without . << 3723 0 obj /Pg 25 0 R /P 5349 0 R /Pg 24 0 R /S /Artifact endobj 531 0 obj << /Lang (EN-US) << endobj 328 0 obj >> << << /K 1125 /S /Artifact /S /P /Lang (EN-US) >> /P 5289 0 R endobj /Pg 22 0 R /Lang (EN-US) >> << /Lang (EN-US) 2830 0 obj /Lang (EN-US) /Pg 14 0 R endobj << /K 437 0 R >> /P 6431 0 R /Pg 23 0 R >> /K 1367 << /K 551 >> /K 1323 2874 0 obj /Pg 25 0 R << endobj /Pg 23 0 R /K 1156 /Lang (EN-US) /S /Artifact /K 1430 /Pg 22 0 R << >> /S /Artifact endobj << /P 4433 0 R >> endobj /S /P /S /Artifact >> 1679 0 obj /Lang (EN-US) endobj /K 1009 << /Pg 22 0 R 1240 0 obj << << /K 1148 endobj >> /K 192 /Pg 23 0 R >> << /S /P /S /P /S /Artifact 3276 0 obj /StructParents 14 /P 5529 0 R << >> endobj /P 10 0 R << null null null 3786 0 R null null null 3787 0 R null 3788 0 R >> /Lang (EN-US) 591 0 obj /Lang (EN-US) << 3259 0 obj 4158 0 obj /S /Artifact /S /P >> /Pg 22 0 R

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