Cliffwater Corporate Lending Fund Class I(CCLFX)

Cliffwater Corporate Lending Fund Class I is a closed-end management investment company established as a Delaware statutory trust, operating as an interval fund under the Investment Company Act of 1940. Its primary purpose is to provide investors with diversified exposure to private credit and direct lending markets, focusing primarily on originating and acquiring loans to middle-market companies. The fund invests predominantly in first lien senior secured loans, unitranche loans, and occasionally in second lien and mezzanine debt, offering investors access to a broad spectrum of corporate credit instruments. By partnering with over 20 premier lending platforms, it manages a highly diversified loan portfolio with exposure to more than 3,900 underlying credits across industries such as business services, industrials, financials, and consumer discretionary sectors. The fund utilizes a multi-lender model to enhance diversification and reduce single-borrower or sector risk. Managed by Cliffwater LLC—recognized for its expertise in private debt and as the creator of the Cliffwater Direct Lending Index—the fund targets stable income generation, highlighted by its tendency to offer competitive distribution rates and quarterly payouts. Its structure supports institutional access to alternative credit investment strategies previously less accessible to individual investors, contributing to its significant role in expanding investor participation in private debt markets.