Cliffwater Fund Faces Over 7 Percent Redemption Requests
The $33 billion Cliffwater Fund received redemption requests exceeding its 5 percent threshold. This follows growing concerns over private credit quality.
The Cliffwater LLC flagship private credit fund is expected to face redemption requests in excess of 7%, according to reports from Bloomberg News. The Cliffwater Corporate Lending Fund, which oversees approximately $33 billion in assets under management, operates as an interval fund. This structure requires the fund to return at least 5% of its assets to investors quarterly if redemption requests reach that threshold.
At present, the firm has not determined whether it will restrict redemptions to the 5% minimum or allow them to proceed at the 7% level. While the report cited people familiar with the matter, a spokesperson for the firm declined to comment, and the details have not been independently verified.
