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Founded in 2004, Cliffwater has been shaping how alternatives are understood and accessed through its research, proprietary indices, and innovative evergreen private markets funds. The Firm’s research has been cited in industry-leading publications and led to the creation of the Cliffwater Direct Lending Index (“CDLI”), the first published index and widely accepted benchmark for direct lending, its suite of sub-indices, and the Cliffwater Evergreen Private Equity Index, the first index tracking the growing universe of evergreen private equity funds. Cliffwater is also one of the largest providers of alternative investment solutions for the wealth management channel. The Firm’s private markets interval fund platform is now the largest in the market with $44.1 billion in net assets as of June 30, 2026, and includes the two largest credit interval funds.

Cliffwater Questions

The Cliffwater annual revenue was $7.7 million in 2026.

William Dornbrook is the Managing Director of Cliffwater.

204 people are employed at Cliffwater.

Cliffwater is based in Marina del Rey, California.

The NAICS codes for Cliffwater are [5259, 52591, 52, 525].

The SIC codes for Cliffwater are [67, 672].

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