The Cliffwater Direct Lending Index (CDLI) 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.Click here to view CDLI Index on Bloomberg Methodology History
The Cliffwater Direct Lending Index (CDLI) is an index comprised of all underlying assets held by public and private Business Development Companies that satisfy certain eligibility requirements. The index is asset-weighted by reported fair value.
The Cliffwater Direct Lending Index ("CDLI") seeks to measure the unlevered, gross of fees performance of U.S. middle market corporate loans, as represented by the underlying assets of Business Development Companies ("BDCs"), including both exchange-traded and unlisted BDCs, subject to certain Eligibility Criteria. The CDLI is an asset-weighted index that is calculated on a quarterly basis using financial statements and other information contained in the U.S. Securities and Exchange Commission ("SEC") filings of all eligible BDCs.
Quarterly based on the Eligibility Criteria
The CDLI will be reconstituted typically within 75 calendar days, but no later than 90 calendar days, following the current Valuation Date.
If a BDC meets the eligibility criteria, but has not filed its report on Form 10-K or 10-Q with the SEC at the time the index is reconstituted, asset information from its report will be included in the index at the time of the next reconstitution.
All assets held by BDCs that meet the following criteria:
Index returns generally will be published 75 days after calendar quarter-end.
September 30, 2015
September 30, 2004