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Private credit remains under pressure, with $33 billion fund redemption requests potentially exceeding 7%
According to media reports citing sources familiar with the matter, Cliffwater LLC’s flagship private credit fund may face redemption requests exceeding 7%.
The Cliffwater Corporate Lending Fund manages approximately $33 billion in assets. It is a closed-end fund with quarterly redemption rights, allowing investors to redeem 5% of their shares if redemption requests reach 5%. If redemption requests exceed 5%, Cliffwater has the right to redeem up to 7% of the fund’s shares.
Sources said the company has not yet decided whether to limit the redemption to 5% or 7%. The fund’s redemption window will close on Tuesday.
Founded by Stephen Nesbitt, Cliffwater is the latest among the $1.8 trillion private credit market to face investor withdrawals due to concerns over loan quality and exposure to software companies potentially disrupted by artificial intelligence.
Risk Warning and Disclaimer
The market carries risks; investments should be made cautiously. This article does not constitute personal investment advice and does not consider individual users’ specific investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investment is at your own risk.