/S /Link /S /Artifact /Lang (EN-US) << /P 5427 0 R /P 6442 0 R endobj endobj /S /P /Diagram /Figure /K 1498 /Pg 25 0 R >> /Lang (EN-US) endobj << /Pg 23 0 R /Pg 25 0 R << /K 1444 /S /Artifact << /P 5750 0 R endobj /K 1207 /Lang (EN-US) endobj /S /Artifact /Lang (EN-US) >> /Pg 25 0 R endobj 3263 0 obj endobj /S /P 686 0 obj 2344 0 obj endobj /P 6582 0 R >> /P 6205 0 R /K 1339 /Pg 24 0 R /S /Artifact >> >> << 483 0 obj /Lang (EN-US) >> /Lang (EN-US) /P 5351 0 R >> /K 850 3846 0 obj endobj /Lang (EN-US) 4304 0 R 4305 0 R 4306 0 R 4307 0 R 4308 0 R 4309 0 R 4310 0 R 4311 0 R 4312 0 R 4313 0 R /Lang (EN-US) /Pg 25 0 R << /Pg 24 0 R /Pg 24 0 R /P 5431 0 R << /Pg 24 0 R << << /Lang (EN-US) >> >> /Pg 22 0 R Source: Cliffwater. /Pg 22 0 R /Lang (EN-US) >> 1926 0 obj /S /P /P 33 0 R >> /K 1009 /S /P endobj /K 873 endobj /K 547 /K 1150 /Pg 24 0 R /Pg 23 0 R /K 513 << << << /Pg 25 0 R 4482 0 R] /Pg 23 0 R /Lang (EN-US) /S /P /Lang (EN-US) endobj /S /Artifact 3419 0 obj /K 921 4285 0 obj >> /P 5531 0 R /S /Artifact endobj /P 4803 0 R << 2076 0 R 2077 0 R 2078 0 R 2079 0 R 2080 0 R 2081 0 R 2082 0 R 2083 0 R 2084 0 R 2085 0 R >> /Lang (EN-US) /S /P 2253 0 obj << /S /Artifact /S /Artifact << /Pg 25 0 R /Lang (EN-US) /S /Artifact /Lang (EN-US) /Pg 23 0 R /Lang (EN-US) 627 0 obj 1264 0 obj /S /Artifact >> /K 457 /K 1463 >> /S /P << /Pg 22 0 R endobj >> << 3213 0 obj /Pg 25 0 R /K 1105 /P 4727 0 R /S /Artifact /S /Artifact << 3969 0 obj /Lang (EN-US) 891 0 obj << >> 958 0 obj /Pg 22 0 R /S /Artifact endobj >> /K 34 /Pg 22 0 R 2125 0 obj 3097 0 obj 3687 0 obj /Lang (EN-US) 1684 0 obj /K 1205 endobj /Lang (EN-US) << /Pg 22 0 R endobj 3910 0 obj /S /P /Lang (EN-US) 1918 0 obj endobj /A 6760 0 R /S /Artifact /Pg 24 0 R /P 10 0 R /Pg 22 0 R >> 3720 0 obj /K 1184 /S /P /Pg 23 0 R /P 6372 0 R endobj /Lang (EN-US) endobj /S /Artifact /CropBox [0 0 612 792] /S /P endobj /S /P /Pg 18 0 R /Pg 22 0 R endobj << << /Pg 22 0 R /Pg 14 0 R /P 5202 0 R /K 243 >> << >> /S /Artifact 4260 0 obj /Pg 22 0 R 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/Contents 4355 0 R endobj << /K 453 /K [135 4664 0 R] 1902 0 obj /Lang (EN-US) /K 1159 /Pg 24 0 R /P 6317 0 R /S /P /K 472 endobj 3813 0 obj << /S /Artifact endobj /P 5171 0 R << /Lang (EN-US) endobj /P 10 0 R /Pg 24 0 R endobj /S /P /P 10 0 R 3059 0 obj /Pg 24 0 R /Lang (EN-US) /K 583 << /Lang (EN-US) 2139 0 obj 309 0 obj /Lang (EN-US) 4131 0 obj /K 445 /S /Artifact /K 1289 /Pg 23 0 R /Pg 13 0 R 3312 0 obj /Pg 18 0 R 2196 0 R 2197 0 R 2198 0 R 2199 0 R 2200 0 R 2201 0 R 2202 0 R 2203 0 R 2204 0 R 2205 0 R >> >> /S /P 2688 0 obj endobj >> endobj /S /Artifact >> << /Pg 25 0 R << 4106 0 obj /S /Artifact /S /Footnote >> 822 0 obj << /K 65 /Lang (EN-US) /S /Artifact /S /P /S /Artifact The Cliffwater Direct Lending Index, or CDLI, is an asset-weighted index of 11,884 directly originated middle market loans totaling $264 billion as of September 30, 2022. /Pg 22 0 R /K 279 /K 122 /K 982 /P 6674 0 R /Pg 22 0 R 4194 0 R 4195 0 R 4196 0 R 4197 0 R 4198 0 R 4199 0 R 4200 0 R 4201 0 R 4202 0 R 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63 >> 444 0 obj /K 1011 /K 142 /Lang (EN-US) /S /P >> << /Pg 23 0 R /K 1343 /P 6314 0 R /Lang (EN-US) null 978 0 R null 979 0 R 980 0 R null 981 0 R null 982 0 R null endobj endobj >> /Pg 25 0 R << endobj /Pg 24 0 R /K 961 /Pg 23 0 R /Pg 23 0 R /P 6312 0 R endobj /P 5036 0 R /K 551 2265 0 obj /Pg 22 0 R null null null 425 0 R null null null 426 0 R null null /K 1275 endobj << /Pg 17 0 R /S /P /Pg 23 0 R 3469 0 obj >> endobj >> >> 3775 0 obj /Pg 24 0 R << /K 1547 2070 0 obj /Lang (EN-US) endobj >> /K 1446 /Lang (EN-US) endobj endobj /Pg 24 0 R 3345 0 obj >> /K 634 /Lang (EN-US) /P 5272 0 R /Pg 25 0 R /Pg 25 0 R << 3276 0 obj endobj /S /P /Lang (EN-US) /K 381 /Pg 22 0 R >> 219 0 obj << 4058 0 obj >> << /P 10 0 R << << endobj << >> >> /Pg 18 0 R << /Lang (EN-US) /S /P /P 5729 0 R endobj /S /P /CropBox [0 0 612 792] >> /Pg 22 0 R >> /P 6472 0 R endobj 119 0 obj << /P 6108 0 R >> endobj endobj /Lang (EN-US) endobj /Lang (EN-US) endobj 739 0 obj 2551 0 obj /S /P << /Pg 24 0 R endobj /S /P 756 0 R null 757 0 R null 758 0 R 759 0 R null 760 0 R null 761 0 R /K 1247 /Pg 23 0 R /Pg 13 0 R >> 1009 0 obj >> >> /K 109 3284 0 obj /K 709 endobj /S /P 1888 0 obj endobj /S /Artifact 902 0 obj /S /Artifact 4248 0 obj << /Pg 25 0 R /K 1447 /S /Artifact /K 1225 /Pg 25 0 R >> /Pg 23 0 R 3741 0 obj << << /Pg 23 0 R >> /K 113 /Lang (EN-US) 2793 0 obj << 648 0 obj endobj endobj /S /P null null null null null 424 0 R null null null null >> /Pg 25 0 R /Lang (EN-US) >> The CDLI. << /K 1145 /Lang (EN-US) null null 1695 0 R null 1696 0 R null 1697 0 R null 1698 0 R null >> endobj >> << /Pg 22 0 R /Pg 22 0 R endobj 31 0 obj >> >> /P 10 0 R >> >> /K 1529 << >> << 604 0 obj /K 1029 >> /P 6260 0 R /K 1099 2632 0 obj << /Lang (EN-US) << /K 103 /Pg 25 0 R endobj /K 562 /Pg 24 0 R /Pg 25 0 R /K 1365 453 0 obj >> << /S /Artifact endobj 2405 0 obj 3370 0 obj /Pg 23 0 R /S /P 4074 0 obj /Pg 25 0 R /Pg 22 0 R /S /Artifact 1837 0 obj << << /Lang (EN-US) endobj >> /K 1356 /Lang (EN-US) /Lang (EN-US) /S /P 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