CDLI final return is 2.38% for 3rd quarter 2018 and 9.34% for the trailing 4 quarters

CDLI Index

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.

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Index Characteristics

  • Index Value (Sept 30, 2018): 3654.68
  • Assets (Fair Value): $97 Billion
  • Number of Loans: > 6,000
  • Yield: 10.19%

Asset Seniority

  • Senior Debt: 63%
  • Subordinate Debt: 23%
  • Equity: 9%
  • Other: 5%

2018 Q3 Report

Private Debt

Capital Market Assumptions

Performance (%) through Sept 30, 2018