Cliffwater LLC's flagship private equity credit fund once again set a redemption limit of 5% in the third quarter. Previously, investors applied for redemption of about 16% of the shares. According to the letter, the $31 billion Cliffwater Corporate Lending Fund informed shareholders on Thursday that they can only pay about one-third of the redemption application. This is basically the same as in the previous quarter, when investors applied for redemption at 17%. The fund stated that it was “always committed to implementing measures that are in the best interest of shareholders,” and indicated that investors who have applied for redemption since the first quarter have recovered 78% of the funds. Cliffwater CEO Stephen Nesbitt said in the letter: “We remain optimistic about the resilience of private equity credit.”

Cliffwater LLC's flagship private equity credit fund once again set a redemption limit of 5% in the third quarter. Previously, investors applied for redemption of about 16% of the shares. According to the letter, the $31 billion Cliffwater Corporate Lending Fund informed shareholders on Thursday that they can only pay about one-third of the redemption application. This is basically the same as in the previous quarter, when investors applied for redemption at 17%. The fund stated that it was “always committed to implementing measures that are in the best interest of shareholders,” and indicated that investors who have applied for redemption since the first quarter have recovered 78% of the funds. Cliffwater CEO Stephen Nesbitt said in the letter: “We remain optimistic about the resilience of private equity credit.”