• •Cliffwater Corporate Lending Fund received withdrawal requests totaling 17% of its total net assets.
• •The fund currently manages over $10 billion, marking it as a significant player in the $1.7 trillion private credit market.
• •This redemption spike comes after years of record capital inflows into private credit vehicles seeking higher yields.

Cliffwater’s private credit fund is facing a liquidity test as investors pull 17% of assets, sparking concerns about the stability of the booming private debt sector. This development serves as a critical indicator of how rising interest rates and market volatility are beginning to impact alternative investment liquidity.