Cliffwater LLC, an investment advisory company, provides alternative investments consulting and advisory services. The company assists clients globally in their allocations to hedge funds, private equity, and real assets. It publishes long term return and risk forecasts for alternative and traditional asset classes, and provides clients a methodology and source for asset allocation studies. The company engages in sourcing top-tier hedge funds, performing due diligence, gaining access for clients, and providing ongoing risk management of hedge fund portfolios. It serves institutional investors, including endowments, foundations, retirement systems, and financial institutions.
Key Features and Coverage on RIMES
For this data source, RIMES hosts approximately 40 companies, and 2 indices, including:
- Cliffwater BDC Index (Price Return) – Measures the performance of lending-oriented, exchange-traded Business Development Companies, subject to certain eligibility criteria regarding portfolio composition, market capitalization, and dividend history. The CWBDC is a capitalization-weighted index that is calculated on a daily basis using publicly-available closing share prices and reported dividend payouts. The CWBDC Total Return Index includes two components: 1) Income Return and 2) Price Return
- Cliffwater Direct Lending Index (Unrealized Gain/Loss) – Seeks to measure the unlevered, gross of fee performance of U.S. middle market corporate loans, as represented by the asset-weighted performance of the underlying assets of Business Development Companies (BDCs), including both exchange-traded and unlisted BDCs, subject to certain eligibility requirements. The CDLI Total Return Index includes three components: Income Return, Realized Gain/Loss, and Unrealized Gain/Loss.
Some of the data items available include:
- Bloomberg Ticker, Date of Portfolio, Description, Database Domain Code, Index Description, Index Symbol (Source), Interest Rate Return or Income Return Index, Last Price Date, Price Return, Quarter Income Return, Quarterly Realized Gain/Loss, Quarter Total Return, Quarterly Unrealized Gain/Loss, Shares Outstanding, Total Return, etc.