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CLIFFWATER LLC
CRD 132167File 801-63344
APPROVED
Retail clients
Custody
Filing as of May 4, 2026
Feed vintage Aug 17, 2026
Regulatory AUM
$48.51B
Top 10% of cohort (national)
Discretionary AUM
$48.51B
Clients
42
25 accounts
Employees
213
Top 10% of cohort in CA
Identity & registration
ADV Item 1- Organization form
- Limited Liability Company
- Firm type
- Registered
- SEC region
- LARO
- Registration date
- Jul 8, 2004
- Principal office
- 4640 ADMIRALTY WAY, 11TH FLOOR, MARINA DEL REY, CA, 90292-6623
- Phone
- 310-448-5000
Assets & accounts
ADV Item 5F- Total regulatory AUM
- $48.51B
- Discretionary AUM
- $48.51B
- Non-discretionary AUM
- $0
- Discretionary accounts
- 25
- Non-discretionary accounts
- 0
- Total accounts
- 25
- AUM per client
- $1.15B
Clients by type
ADV Item 5D| Client type | Clients | AUM |
|---|---|---|
| Other | Fewer than 5 | $0 |
| Non-U.S. persons | Fewer than 5 | $0 |
| Insurance companies | Fewer than 5 | $0 |
| Investment companies | 3 | $43.93B |
| Charitable organizations | Fewer than 5 | $176.6M |
| Other investment advisers | Fewer than 5 | $0 |
| High net worth individuals | 10 | $171.8M |
| Pooled investment vehicles | 4 | $812.5M |
| Banking or thrift institutions | Fewer than 5 | $0 |
| Pension and profit sharing plans | 7 | $457.3M |
| State or municipal government entities | 9 | $933.1M |
Compensation & activities
ADV Items 5E, 5GCompensation
- Fixed fees
- A percentage of assets under your management
Advisory activities
- Publications
- Other advisory activities
- Selection of other advisers
- Portfolio management for other
- Portfolio management for businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for individuals and/or small businesses
Custody
ADV Item 9- Firm Custody Cash
- Yes
- Firm Custody Assets
- No
- Firm Custody Clients
- No
- Firm Custody Securities
- Yes
- Related Person Custody Cash
- No
- Related Person Custody Assets
- No
- Related Person Custody Clients
- No
- Related Person Custody Securities
- No
Disclosure events
ADV Item 11This firm answered no to every Item 11 disclosure question in this filing.
Filed changes
| Date | Field | From | To |
|---|---|---|---|
| Aug 17, 2026 | Clients | 54 | 42 |
| Aug 12, 2026 | Registration | — | APPROVED |
Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.