cliffwater direct lending index

<< /P 5608 0 R 1222 0 obj /Lang (EN-US) /Pg 18 0 R /Pg 24 0 R /S /P << << >> /K 324 /Pg 23 0 R >> 86 0 obj /Lang (EN-US) >> >> 3711 0 obj endobj /S /P << << /Pg 24 0 R /K 1149 3554 0 obj 1294 0 obj >> 2397 0 obj /K 43 3234 0 obj /Pg 18 0 R << >> /Lang (EN-US) /S /P 3138 0 obj /S /P /P 6696 0 R endobj /Pg 20 0 R << /Lang (EN-US) /K 135 endobj /S /P /P 6615 0 R >> /S /Artifact /Type /Page /P 5846 0 R 2008 0 obj endobj /P 4981 0 R /K 1152 /P 5887 0 R /K 1549 << endobj /K 1355 /Pg 22 0 R /Pg 26 0 R 2033 0 obj endobj /Lang (EN-US) /Pg 13 0 R /Lang (EN-US) /Pg 22 0 R /Pg 24 0 R endobj /K 1145 /Pg 22 0 R >> /P 6445 0 R /S /P << /S /P /Pg 13 0 R /P 5836 0 R >> /Pg 23 0 R endobj /S /P /Lang (EN-US) 162 0 obj /Pg 25 0 R >> /Lang (EN-US) /P 4833 0 R << /Lang (EN-US) endobj /K 1188 /K 570 /S /Artifact 3845 0 obj >> /Lang (EN-US) 3594 0 obj >> /S /Artifact /A 4409 0 R 2464 0 obj << /K 1297 /P 5532 0 R << endobj 38 0 obj /Pg 23 0 R endobj >> /K 237 endobj /S /Artifact /Pg 23 0 R /Pg 23 0 R << << << << >> >> /Pg 25 0 R << /S /P /Pg 13 0 R /Pg 23 0 R /Pg 22 0 R >> /P 6479 0 R /Lang (EN-US) << 3862 0 obj endobj /Pg 23 0 R /Lang (EN-US) /Pg 25 0 R /Pg 23 0 R endobj /K 532 /P 4795 0 R /K 1253 << << /Pg 24 0 R /Pg 23 0 R /Pg 24 0 R >> << /K 1480 /Lang (EN-US) /K 935 /P 5031 0 R /Pg 25 0 R /K 1178 >> endobj endobj /S /Artifact /S /P << << << << /Pg 25 0 R 1421 0 obj endobj >> /S /P /P 6140 0 R /S /P /Lang (EN-US) endobj /Pg 20 0 R endobj endobj >> /K 252 210 0 obj /K 638 >> /Lang 426 0 obj /P 4726 0 R 3010 0 obj 1642 0 obj >> 4214 0 obj endobj /S /P endobj /P 6341 0 R endobj << >> /S /Artifact /Pg 22 0 R /Lang (EN-US) endobj endobj /Pg 22 0 R /Pg 25 0 R << endobj /K 1197 2821 0 obj /Pg 23 0 R << /S /Artifact /Pg 23 0 R 627 0 R null 628 0 R null 629 0 R null 630 0 R null 631 0 R null 3006 0 obj endobj << << >> 3190 0 obj /K 904 /K 1208 << /K 1309 >> /P 5235 0 R << endobj << /Pg 20 0 R /P 5174 0 R endobj /Pg 22 0 R endobj >> /Pg 23 0 R /P 5327 0 R endobj /K 1123 endobj /K 1035 1805 0 obj 1063 0 obj << >> << endobj /S /Artifact 1772 0 obj /P 5886 0 R null 1637 0 R null 1638 0 R null 1639 0 R null 1640 0 R 1641 0 R null /Pg 24 0 R endobj 3120 0 obj /S /P 3096 0 obj << /K 1187 3397 0 obj 1001 0 obj endobj /S /P /K 199 >> /Resources 4383 0 R endobj << >> endobj 2015 0 obj /P 4774 0 R /K 1096 /P 5817 0 R He is a portfolio manager responsible for US Direct Lending funds, BlackRock Credit Strategies Fund, and middle-market CLOs in the US. << /K 239 /S /P >> >> 63 0 obj /P 5074 0 R /P 10 0 R /Lang (EN-US) /Pg 16 0 R << /K 155 << /S /P << 3403 0 obj >> endobj 2435 0 obj << /Pg 24 0 R /Pg 22 0 R >> 2640 0 obj /Pg 25 0 R /K 507 endobj /P 10 0 R /Pg 22 0 R >> 2317 0 obj >> << << << 3892 0 R null 3893 0 R null 3894 0 R 326 0 R 3895 0 R 3896 0 R 3897 0 R 3898 0 R 1500 0 obj /S /P endobj /Pg 19 0 R /Pg 25 0 R /S /P /Pg 25 0 R /P 6757 0 R /Pg 25 0 R /P 10 0 R >> << 439 0 obj /Pg 26 0 R /Pg 22 0 R << /Lang (EN-US) /Pg 25 0 R /Lang (EN-US) >> 542 0 obj /S /Artifact /S /Artifact endobj >> /Lang (EN-US) The Cliffwater Direct Lending Index (CDLI) prior quarter return explains only 8% of the index's current quarter return. << /P 10 0 R /Pg 24 0 R << << << endobj /K 1481 >> /P 10 0 R /Lang (EN-US) /S /P << /Lang (EN-US) /A 4461 0 R << 2713 0 R 2714 0 R null 2715 0 R null 2716 0 R null 2717 0 R null 2718 0 R endobj /Pg 24 0 R /S /Artifact /Lang (EN-US) endobj >> /S /Artifact 13 0 obj endobj /K 1524 2098 0 obj << /K 1185 /S /P /S /Artifact << /K 1109 << /P 5830 0 R /S /Artifact >> endobj /K 30 >> /S /P endobj /Lang (EN-US) null 1557 0 R null 1558 0 R null 1559 0 R null 1560 0 R null 1561 0 R /Pg 23 0 R /Pg 24 0 R /P 5995 0 R /S /P endobj 2699 0 obj 3334 0 R 3335 0 R 3336 0 R 3337 0 R 3338 0 R 3339 0 R 3340 0 R 3341 0 R 3342 0 R 3343 0 R endobj /Lang (EN-US) /P 4837 0 R >> >> endobj << /Pg 22 0 R >> /Lang (EN-US) << /S /P /K 1339 1336 0 obj /Lang (EN-US) /Lang (EN-US) << null 1664 0 R 1665 0 R null 1666 0 R null 1667 0 R null 1668 0 R null endobj /Lang (EN-US) endobj /Pg 25 0 R /K 1319 /S /P /Lang (EN-US) >> 975 0 obj 819 0 obj 700 0 obj /Lang (EN-US) /Pg 25 0 R >> /K 1421 << >> << >> endobj endobj /S /P 2729 0 obj /Lang (EN-US) /S /Artifact endobj << >> endobj 3000 0 obj >> /K 1464 /S /P 2461 0 obj 1917 0 obj 1061 0 obj endobj /S /P /Pg 22 0 R 3447 0 obj >> /Pg 23 0 R >> /S /P 297 0 R 297 0 R] /P 5573 0 R /P 6569 0 R << 649 0 obj >> /S /P << endobj >> /Pg 23 0 R /K 32 /K 680 /Pg 22 0 R /S /P 2359 0 obj 1131 0 obj 1827 0 obj endobj << << /K 1545 /K 530 /Lang (EN-US) /S /P 772 0 obj /K 17 /Pg 22 0 R endobj /Pg 24 0 R /Pg 23 0 R << << >> /P 4771 0 R 2328 0 obj /K 1109 << >> /K 1299 >> /Pg 23 0 R endobj 295 0 obj /P 10 0 R >> >> /T () << 4259 0 obj endobj << /Pg 23 0 R 3307 0 obj /S /Artifact /S /P /K 1141 /S /P << << << /S /P /K 1164 /Lang (EN-US) >> /Pg 17 0 R /Pg 22 0 R 199 0 obj /Pg 25 0 R endobj /S /Artifact 4021 0 obj endobj /Lang (EN-US) /Pg 22 0 R << << /K 1504 << endobj << >> /K 1163 /K 1232 /S /P 77 0 R 78 0 R 79 0 R 80 0 R 81 0 R 82 0 R 83 0 R 84 0 R 85 0 R 86 0 R /K 1441 /Pg 22 0 R /S /Artifact /S /Artifact >> >> /Lang (EN-US) /S /P 2637 0 R null 2638 0 R null 2639 0 R null 2640 0 R null 2641 0 R 2642 0 R /K 1127 /K 1512 /K 1182 /Lang (EN-US) << /P 6494 0 R /S /P /P 5649 0 R endobj /Pg 22 0 R /K 895 >> endobj endobj Lee Menifee previews what to expect during the market downturn and what the current environment means for investment endobj /S /Artifact endobj /P 5940 0 R /K 10 << >> /Pg 24 0 R null null null 740 0 R null null null 741 0 R null 742 0 R /K 1284 >> 3435 0 obj endobj /Pg 22 0 R << << /S /P endobj >> /S /Artifact << /Lang (EN-US) 905 0 obj /Pg 25 0 R >> 2393 0 R 2394 0 R 2395 0 R 2396 0 R 2397 0 R 2398 0 R 2399 0 R 2400 0 R 2401 0 R 2402 0 R >> 2482 0 obj /Pg 23 0 R /K 113 /Pg 25 0 R /P 5381 0 R /K 1422 /Lang (EN-US) >> /P 5266 0 R /S /Artifact /Contents [4339 0 R 4340 0 R 4341 0 R 4342 0 R 4343 0 R 4344 0 R 4345 0 R 4346 0 R] /Lang (EN-US) >> /P 5741 0 R << 1423 0 obj >> /P 5137 0 R /S /P 707 0 obj /Pg 25 0 R >> endobj /P 5286 0 R endobj /S /P /S /Artifact endobj /Pg 25 0 R << /Lang (EN-US) >> >> 1745 0 obj /K 1258 /Pg 25 0 R /S /Artifact /Pg 17 0 R /Lang (EN-US) /K 1313 >> endobj 3458 0 obj /Lang (EN-US) /Pg 23 0 R /S /Artifact /S /P /P 5411 0 R /P 5831 0 R /S /Artifact /Pg 23 0 R 4180 0 obj /P 5637 0 R /K 49 << /Pg 22 0 R << 1301 0 obj /S /P endobj 2956 0 obj 955 0 obj /S /P /K 542 >> endobj << /S /P /Lang (EN-US) /K 1236 /K 302 /Pg 25 0 R /S /P /K 578 /K 86 /K 1151 /Lang (EN-US) /Pg 23 0 R << >> 451 0 R null 452 0 R null 453 0 R 454 0 R 455 0 R null 456 0 R null endobj /P 5146 0 R endobj 1238 0 R 1239 0 R 1240 0 R 1241 0 R 1242 0 R 1243 0 R 1244 0 R 1245 0 R 1246 0 R 1247 0 R /Lang (EN-US) /P 5200 0 R 4215 0 obj /P 5607 0 R /K 69 /Pg 23 0 R 2812 0 obj << /Pg 23 0 R 4336 0 obj endobj >> /P 6680 0 R << endobj >> /Pg 25 0 R endobj >> 1048 0 obj /S /P /Lang (EN-US) /Pg 25 0 R endobj << /P 5346 0 R << /P 10 0 R /Resources 4379 0 R 2690 0 obj /Lang (EN-US) << endobj 3699 0 obj /Pg 25 0 R 487 0 obj >> /K 126 /Lang (EN-US) /K 1029 >> 3165 0 obj /Pg 24 0 R /Lang (EN-US) << /Pg 24 0 R /S /Artifact 3747 0 obj /K 460 /Lang (EN-US) /K 1148 << /S /Artifact << 941 0 obj 3370 0 obj /Pg 25 0 R << /K 16 /Lang (EN-US) /Pg 22 0 R << /P 5025 0 R << << /Lang (EN-US) >> endobj /S /Artifact >> << << >> /K 914 << /Lang (EN-US) /Lang (EN-US) 2943 0 R null 2944 0 R null 2945 0 R null 2946 0 R 2947 0 R null 2948 0 R endobj /Pg 23 0 R /Pg 22 0 R >> /K 1248 >> /Lang (EN-US) /K 639 endobj endobj /P 4966 0 R >> >> endobj >> endobj << >> /S /Artifact /Pg 23 0 R /K 75 >> /Pg 23 0 R >> /K 1035 /K 624 >> << /K 739 /P 4900 0 R << /K 1187 /Lang (EN-US) /Lang (EN-US) endobj endobj 3379 0 obj /S /P << << /S /P << /Pg 24 0 R 579 0 obj /K 695 >> << >> /Lang (EN-US) endobj /Pg 22 0 R 3408 0 obj /Lang (EN-US) endobj r bcErZ%+GXiC 5=:e5}cK 2080 0 obj << 3373 0 obj << endobj endobj /S /Artifact /Lang (EN-US) 1564 0 obj /P 5270 0 R << endobj /K 740 353 0 R 354 0 R] /S /P /S /P /K 51 3794 0 R null 3795 0 R null 3796 0 R null 3797 0 R null null null /Lang (EN-US) 486 0 obj >> >> 1805 0 R null 1806 0 R null 1807 0 R null null null 1808 0 R null 2149 0 obj >> /Pg 23 0 R 3178 0 obj >> /S /P endobj << /K 27 607 0 obj /K 1074 4178 0 obj >> /S /P endobj >> << 1661 0 obj Indices - Cliffwater LLC >> 1802 0 obj /Lang (EN-US) << << 956 0 obj >> 178 0 obj /Pg 24 0 R endobj endobj /P 4902 0 R /Pg 24 0 R >> 2303 0 R 2304 0 R 2305 0 R 2306 0 R 2307 0 R 2308 0 R 2309 0 R 2310 0 R 2311 0 R 2312 0 R endobj 3817 0 obj /P 5423 0 R /S /P /K 1329 >> endobj /P 33 0 R /K 1409 2645 0 obj /Pg 24 0 R /Pg 25 0 R endobj /K 16 1731 0 obj /S /P endobj /Pg 25 0 R 3710 0 obj /Pg 23 0 R >> /P 5099 0 R /S /P >> /Lang (EN-US) /P 5528 0 R /Lang (EN-US) endobj /Lang (EN-US) 474 0 obj /P 5805 0 R << /P 33 0 R << /Pg 25 0 R endobj >> /Lang (EN-US) endobj 3949 0 obj 116 0 obj endobj endobj /K 405 /K 1345 /S /P /S /P << 2740 0 obj endobj endobj 3996 0 obj /K 109 1147 0 obj /S /P >> << /Pg 23 0 R /S /Artifact << /S /Artifact /P 6149 0 R /K 736 2937 0 obj << 1764 0 obj /Lang (EN-US) 895 0 obj >> << 3372 0 obj /P 10 0 R >> /K 1331 1145 0 obj >> /K 35 >> << /P 6486 0 R >> << << 4014 0 obj << /S /P /K 53 /Pg 25 0 R >> << /Pg 24 0 R >> >> /K 484 /S /Artifact /K 1010 /K 94 << endobj endobj >> << /K 1331 endobj >> endobj /Pg 24 0 R >> /Lang (EN-US) endobj >> /Pg 24 0 R 1079 0 obj 1456 0 obj endobj endobj /Pg 24 0 R 1959 0 obj 3931 0 obj /S /P endobj /K 17 /Pg 25 0 R << 3640 0 obj endobj 107 0 R 108 0 R 109 0 R 110 0 R 111 0 R 112 0 R 113 0 R 114 0 R 115 0 R 116 0 R /Pg 22 0 R /K 324 null 622 0 R null 623 0 R null 624 0 R null 625 0 R 626 0 R null >> /Pg 25 0 R /P 4720 0 R << /K 705 << /Lang (EN-US) /K 955 /S /Artifact << 3984 0 obj >> /S /P /K 680 3038 0 obj /Lang (EN-US) /S /P /S /P >> /K 1352 3234 0 R 3235 0 R 3236 0 R 3237 0 R 3238 0 R 3239 0 R 3240 0 R 3241 0 R 3242 0 R 3243 0 R /S /P endobj << /S /P /Pg 24 0 R /P 33 0 R /S /P endobj endobj 2900 0 obj >> /Pg 13 0 R /S /Artifact /S /Artifact /K 802 /K 385 /Pg 24 0 R endobj /Pg 25 0 R /Pg 21 0 R 240 0 obj /K 1172 Adobe PDF Library 22.1.149 << /P 6059 0 R /K 1540 /K 337 /K 54 /S /P << /Pg 22 0 R >> Derivative instruments may be used to hedge 2022 Q1 Report on U.S. Direct Lending - Cliffwater /Pg 25 0 R << /S /P /Lang (EN-US) /S /Artifact /S /Artifact /P 5187 0 R >> /S /Artifact << 899 0 obj 2938 0 obj /K 252 /Pg 23 0 R 2326 0 obj /S /Artifact endobj >> /Filter /FlateDecode /Pg 23 0 R /K 1490 endobj /Pg 22 0 R 1828 0 obj << /K 527 << /Pg 23 0 R << 488 0 obj /Lang (EN-US) /Lang (EN-US) /P 5695 0 R /Pg 24 0 R endobj << endobj /Pg 22 0 R 1672 0 obj endobj /Pg 21 0 R >> >> /Pg 18 0 R >> >> endobj /S /Link >> 1033 0 obj 2795 0 obj 1803 0 obj /S /P 3051 0 obj endobj /Lang (EN-US) /Lang (IT-IT) /S /P endobj /S /Artifact /S /Artifact /Lang (EN-US) /K 890 /S /P /P 10 0 R /S /Artifact >> << << /S /Artifact endobj 3253 0 obj /K 1344 /S /P /Lang (EN-US) /K 523 /K 844 /Pg 24 0 R << /Pg 14 0 R 3089 0 obj 1303 0 obj endobj endobj >> >> 726 0 R null 727 0 R null null null 728 0 R null null null >> /P 4826 0 R >> /S /P /Pg 22 0 R /S /Artifact /K 1257 endobj /Lang (EN-US) endobj endobj 4250 0 obj 1010 0 obj /Lang (EN-US) >> 3617 0 obj endobj endobj endobj /S /P << /P 5854 0 R /Lang (EN-US) << << /P 6070 0 R /K 19 /S /Artifact /P 5735 0 R >> 262 0 obj /P 5342 0 R /P 5098 0 R 335 0 obj /Pg 25 0 R /P 5928 0 R 1029 0 obj 3273 0 obj /Lang (EN-US) 3274 0 R 3275 0 R 3276 0 R 3277 0 R 3278 0 R 3279 0 R 3280 0 R 3281 0 R 3282 0 R 3283 0 R /S /Artifact endobj 2548 0 obj >> 1062 0 R null 1063 0 R 1064 0 R null 1065 0 R null 1066 0 R null 1067 0 R 2607 0 R null 2608 0 R null 2609 0 R null 2610 0 R null null null /Lang (EN-US) /S /P /Pg 22 0 R /Lang (EN-US) 2154 0 obj /Pg 23 0 R endobj << << /S /P Bloomberg >> endobj /Pg 25 0 R 197 0 obj /Lang (EN-US) endobj /S /Artifact /S /Artifact /K 18 endobj endobj << 635 0 obj >> /Pg 24 0 R /Lang (EN-US) << << /S /Artifact /Pg 24 0 R 2894 0 R null 2895 0 R null 2896 0 R null 2897 0 R null 2898 0 R 2899 0 R endobj /K 693 /Lang (EN-US) << /Pg 24 0 R endobj /Lang (EN-US) /S /P 2955 0 obj endobj 3304 0 R 3305 0 R 3306 0 R 3307 0 R 3308 0 R 3309 0 R 3310 0 R 3311 0 R 3312 0 R 3313 0 R 2915 0 obj /K 1419 endobj endobj endobj endobj >> /P 4668 0 R /K 4 3953 0 obj /Pg 22 0 R /Pg 24 0 R 252 0 obj /S /P /S /P /P 5221 0 R /S /P << /Pg 19 0 R /K 662 << >> /Pg 19 0 R /K 1550 >> 1099 0 obj /S /P 3034 0 obj /K 734 /P 5243 0 R /Pg 25 0 R /Pg 25 0 R /Resources 4385 0 R 662 0 obj << << endobj /K 521 /S /P endobj << /S /Artifact << /S /Artifact /P 5149 0 R /K 537 /CropBox [0 0 612 792] /S /P endobj endobj /K 387 /K 494 /S /Artifact 3606 0 obj /Lang (EN-US) endobj 509 0 obj << /Lang (EN-US) /S /Artifact >> endobj /Pg 25 0 R 2602 0 obj /Pg 18 0 R 1704 0 obj /Pg 24 0 R >> /K 1475 /Pg 24 0 R /Pg 23 0 R /Pg 23 0 R << << >> endobj endobj 2296 0 obj /Lang (EN-US) 3556 0 obj << /Lang (EN-US) 1006 0 obj /Pg 22 0 R /S /Artifact /S /P 3761 0 obj /K 790 /Pg 22 0 R endobj /Pg 24 0 R 978 0 obj 2344 0 obj endobj /Pg 24 0 R endobj << << /S /P >> >> /K 29 /S /Artifact /K 1496 2930 0 obj endobj /S /P 1877 0 obj /K 1106 /Pg 23 0 R /S /Artifact /K 40 >> 1274 0 obj /S /Artifact 4154 0 obj >> 3520 0 obj /K 1157 endobj >> << endobj /P 4644 0 R /P 5564 0 R /Lang (EN-US) /K 1382 /K 1516 /P 6726 0 R /Lang (EN-US) << << /S /Artifact /P 5087 0 R /K 1361 3691 0 obj /K 1496 /Pg 25 0 R /S /Artifact /S /P /K 6 4225 0 obj endobj /Pg 25 0 R 1007 0 obj /Lang (EN-US) /S /Table /K 1019 /Pg 23 0 R /K [58 59 60 61] /S /Artifact /Pg 15 0 R << 2567 0 obj /Pg 24 0 R << /P 6507 0 R /P 4796 0 R /S /P 2480 0 obj >> << 593 0 obj /K 608 endobj /Pg 23 0 R /Pg 23 0 R endobj /K 1471 2693 0 obj /Pg 23 0 R endobj /P 6282 0 R << /K 1060 endobj /Pg 18 0 R << The CDLI. /K 57 /K 1046 endobj endobj endobj 4282 0 obj << /K 921 /S /P endobj << 2685 0 obj 2977 0 R 2978 0 R 2979 0 R 2980 0 R 2981 0 R 2982 0 R 2983 0 R 2984 0 R 2985 0 R 2986 0 R /S /Artifact /S /P /K 23 << << null 811 0 R null null null 812 0 R null null null 813 0 R /P 6711 0 R endobj /K 674 /Lang (EN-US) >> >> /S /Artifact /S /Artifact /K 1303 229 0 R null 207 0 R 207 0 R 207 0 R 207 0 R 207 0 R 207 0 R 207 0 R 207 0 R >> >> >> endobj 3523 0 R 3524 0 R null 3525 0 R null 3526 0 R null 3527 0 R null 3528 0 R >> /Parent 9 0 R /Lang (EN-US) /S /Artifact << /S /P /K 142 /K 1324 << endobj /K 547 /S /Artifact >> /P 4827 0 R /P 6635 0 R /Lang (EN-US) /S /P endobj /P 5826 0 R << 2775 0 obj /P 5837 0 R /Lang (EN-US) /S /P /S /Artifact /S /P >> endobj /K 1393 /S /Artifact /K 952 endobj >> << << /K 246 endobj /Pg 22 0 R 1440 0 obj >> 3934 0 obj >> /P 5680 0 R /P 4946 0 R endobj endobj /K 346 << >> 1743 0 R null 1744 0 R null 1745 0 R null 1746 0 R null 1747 0 R null >> /Marked true /Pg 22 0 R /Pg 24 0 R /S /Artifact endobj /S /Artifact /S /Artifact /K 702 /Pg 25 0 R /Lang (EN-US) << /S /P /S /Artifact /Lang (EN-US) endobj /S /P endobj endobj >> /Pg 23 0 R endobj >> 4620 0 R 4621 0 R 4622 0 R 4623 0 R 4624 0 R 4625 0 R 4626 0 R 4627 0 R 4628 0 R 4629 0 R endobj /S /Artifact /K 1265 >> /Lang (EN-US) /S /Artifact /Pg 25 0 R endobj 1673 0 obj /Lang (EN-US) /S /Artifact /Lang (EN-US) >> 4123 0 obj 4308 0 obj 2907 0 obj /Pg 22 0 R /S /P /S /P /K 1473 /Pg 22 0 R /Pg 24 0 R /S /Artifact 3201 0 obj /K 522 /S /P 1187 0 obj /Lang (EN-US) /Pg 23 0 R endobj endobj /S /Artifact >> >> /S /P /S /Artifact /Lang (EN-US) /S /Artifact /K 1114 << /K 15 /Pg 19 0 R /S /P endobj /Lang (EN-US) /S /P endobj << /Lang (EN-US) /K 1518 >> << /K 1125 /P 5269 0 R >> /K 884 /Pg 23 0 R /Pg 24 0 R << /S /P endobj /S /P /S /P /K 1510 /S /P endobj 1861 0 obj Because direct lending uses rates that "float," cash coupons have been increasing as interest rates have . /S /P /K 1237 /S /Artifact << >> /K 1350 endobj >> /Pg 24 0 R endobj /Lang (EN-US) >> /K 1373 /S /Artifact endobj /Lang (EN-US) /Lang (EN-US) /K 776 2818 0 obj /S /P 2871 0 obj /Lang (EN-US) /K 1398 << /Pg 20 0 R 1945 0 obj /P 5746 0 R /K 398 endobj 4482 0 R] endobj /K 206 /K 60 /K 273 3890 0 obj /P 10 0 R /K 395 /P 6105 0 R /Pg 24 0 R /Lang (EN-US) endobj /S /P 3706 0 obj >> endobj 947 0 obj Barry Cowen LinkedIn: Why is US unemployment falling even as /Pg 24 0 R << /P 6258 0 R >> /S /Artifact /S /P >> << 4226 0 obj /S /P /P 10 0 R /S /Artifact 2090 0 obj /S /Artifact /S /Artifact /Pg 23 0 R << /P 6478 0 R /K 361 >> /K 576 /Lang (EN-US) << /S /Artifact /Lang (EN-US) >> /K 18 << /K 91 /Rotate 0 << >> /S /P >> /K 513 /Lang (EN-US) endobj /S /P << /S /Table >> 3046 0 obj 1321 0 obj endobj 730 0 obj 1373 0 obj /S /Artifact /S /P null 3630 0 R null 3631 0 R 3632 0 R null 3633 0 R null 3634 0 R null << /Lang (EN-US) endobj /K 1469 /P 4880 0 R /Pg 17 0 R >> /S /P /Lang (EN-US) << /K 76 2234 0 obj 3663 0 obj << >> >> >> 3398 0 obj endobj >> >> /K 1470 /Lang (EN-US) 1580 0 obj /S /Artifact /P 5018 0 R /S /P 2629 0 obj /Pg 22 0 R endobj null null 961 0 R null null null 962 0 R null 963 0 R null /S /P /S /P /Pg 22 0 R /K 732 1823 0 obj /K 78 /Pg 25 0 R endobj /K 1159 >> << << << 3192 0 obj << endobj << /K 1318 /Pg 22 0 R /K 723 null 1686 0 R null 1687 0 R null 1688 0 R 1689 0 R null 1690 0 R null >> /Lang (EN-US) 2246 0 R 2247 0 R 2248 0 R 2249 0 R 2250 0 R 2251 0 R 2252 0 R 2253 0 R 2254 0 R 316 0 R << /K 63 >> 341 0 obj /StructParents 3 << /P 5568 0 R endobj 1666 0 obj endobj << /S /P >> << /Lang (EN-US) /S /P >> /Pg 25 0 R /Lang (EN-US) << >> /S /P << endobj /P 6221 0 R /S /Artifact endobj >> /K 145 875 0 obj endobj /Pg 23 0 R 505 0 obj /Pg 25 0 R /P 5538 0 R /Pg 22 0 R 2402 0 obj endobj /S /P 3878 0 obj endobj endobj << /Pg 22 0 R 1949 0 obj << endobj >> /K 520 /Lang (EN-US) << 4524 0 R] << /S /P >> << >> 609 0 obj Regime Change: The Role of Private Equity in the'Traditional' Portfolio 1105 0 obj /S /P /Pg 17 0 R << /Pg 18 0 R >> /S /P /P 5011 0 R << /Pg 25 0 R << /S /Artifact /Lang (EN-US) 4253 0 obj /Lang (EN-US) >> /S /Artifact 696 0 obj 3179 0 obj >> 2682 0 obj endobj 291 0 obj >> 901 0 obj /Lang (EN-US) /K [171 541 0 R 192] /Pg 25 0 R /K 616 2470 0 obj /Pg 23 0 R << endobj /P 6315 0 R << /Lang (EN-US) >> endobj << /K 1339 /K 185 /P 6621 0 R endobj << /K 1428 /P 5484 0 R endobj /S /P << /S /Artifact << /Lang (EN-US) << /P 5445 0 R 3214 0 R 3215 0 R 3216 0 R 3217 0 R 3218 0 R 3219 0 R 3220 0 R 3221 0 R 3222 0 R 3223 0 R << << 3274 0 obj >> /CropBox [0 0 612 792] /P 5985 0 R /K 414 /P 10 0 R >> 1616 0 obj 3175 0 obj >> 3218 0 obj /K 458 endobj endobj >> >> /P 5780 0 R /S /P << << /Pg 24 0 R /P 10 0 R /Pg 23 0 R << /S /Artifact /P 33 0 R endobj >> endobj /Lang (EN-US) << /Pg 22 0 R << << endobj << /K 82 /Pg 22 0 R /K 144 endobj /K 77 /Pg 23 0 R /Pg 22 0 R /K 1089 /Pg 24 0 R << << << /Lang (EN-US) 1395 0 obj /S /Artifact >> /S /P /K 172 /K 1072 /S /P /Pg 22 0 R 2949 0 obj endobj /K 225 /Lang (EN-US) /P 5260 0 R /K 449 >> 299 0 obj endobj >> /P 6161 0 R endobj endobj << /S /P << << endobj /Lang (EN-US) >> PRIVATE DEBT - Yield, Safety and the Emergence of Alternative Lending >> 3851 0 obj 24 0 obj /A 4673 0 R << 2279 0 obj << /S /P >> 1513 0 obj 3003 0 obj >> 530 0 obj /Lang (EN-US) /P 5457 0 R >> /S /P endobj /Pg 17 0 R /Lang (EN-US) /K 1371 /K 266 /Lang (EN-US) << endobj /K 86 /Pg 23 0 R /K 299 << /Lang (EN-US) /S /Artifact /S /Artifact /Lang (EN-US) /Pg 25 0 R /K 1529 /P 6571 0 R /K 1113 endobj /S /Artifact /Lang (EN-US) /S /Artifact /Lang (EN-US) /S /P endobj /Lang (EN-US) /K 581 endobj 1385 0 R 1386 0 R 1387 0 R 1388 0 R 1389 0 R 1390 0 R 1391 0 R 1392 0 R 1393 0 R 1394 0 R /S /P 2283 0 R 2284 0 R 2285 0 R 2286 0 R 2287 0 R 2288 0 R 2289 0 R 2290 0 R 2291 0 R 2292 0 R << /K 763 /Pg 19 0 R 4301 0 obj /K 1456 endobj /S /Artifact /P 5889 0 R 2316 0 obj << 161 0 obj /P 4717 0 R /K 1192 191 0 R 192 0 R 194 0 R 196 0 R 197 0 R 198 0 R 199 0 R 200 0 R null null /Lang (EN-US) /S /P /K 637 >> 2771 0 R null null null 2772 0 R null null null 2773 0 R null endobj << << endobj 3946 0 obj << /Pg 23 0 R /Lang (EN-US) /Pg 20 0 R /Lang (EN-US) 2358 0 obj 1902 0 obj >> >> 3456 0 obj 369 0 obj /K 1120 3923 0 obj endobj /Pg 24 0 R /S /Artifact >> << /Pg 23 0 R endobj >> /P 10 0 R endobj endobj This book dissects direct loans as a class, providing the critical background 385397403217. /S /P null 907 0 R 908 0 R null 909 0 R null 910 0 R null 911 0 R null /K 697 >> >> /S /Artifact /P 5113 0 R 1248 0 R 1249 0 R 1250 0 R 1251 0 R 1252 0 R 1253 0 R 1254 0 R 1255 0 R 1256 0 R 1257 0 R 3404 0 obj /Pg 20 0 R 2894 0 obj << /Lang (IT-IT) >> /P 6515 0 R endobj /Lang (EN-US) 3518 0 obj /S /P /Lang (EN-US) 4296 0 obj endobj >> endobj << /S /P /P 4885 0 R << /Lang (EN-US) << /Pg 23 0 R /Pg 17 0 R 1246 0 obj /K 1351 >> /K 226 << /Pg 25 0 R >> 2623 0 obj 1383 0 obj /K 1119 3324 0 R 3325 0 R 3326 0 R 3327 0 R 3328 0 R 3329 0 R 3330 0 R 3331 0 R 3332 0 R 3333 0 R endobj /Pg 23 0 R /K 1061 /Pg 18 0 R /Pg 22 0 R /K 603 endobj << /P 4905 0 R /P 6368 0 R /Pg 22 0 R /Lang (EN-US) 3444 0 obj /P 5503 0 R endobj >> /P 5229 0 R /Pg 25 0 R /P 4809 0 R >> << /Lang (EN-US) /Pg 18 0 R >> << /Pg 25 0 R 4246 0 obj /P 5749 0 R /K 1136 3075 0 obj 3881 0 obj 4012 0 obj /K 276 /Pg 13 0 R /Pg 22 0 R /S /Artifact /Order (2665700.00000000) >> << >> /Pg 23 0 R /P 6684 0 R endobj << >> >> /K 5 /K 1155 endobj /K 1090 /S /Artifact /Pg 24 0 R endobj /S /Artifact >> /K 201 /K 283 1915 0 obj endobj /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) 1209 0 obj /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) 783 0 obj /K 1312 /K 10 /S /Artifact /K 1134 2756 0 obj /Pg 24 0 R << /Pg 24 0 R endobj 1995 0 obj 3696 0 obj /K 1368 endobj << /Pg 22 0 R /K 26 /K 79 /Pg 18 0 R << endobj endobj 738 0 obj << endobj /K 9 >> /Pg 24 0 R >> /Pg 22 0 R /K 246 /Lang (EN-US) >> << /S /P endobj << /K 1075 /Pg 25 0 R /Pg 18 0 R << endobj >> >> /S /Artifact >> /Lang (EN-US) 3669 0 obj /S /Artifact << /S /Artifact /K 1306 << endobj /K 379 endobj endobj endobj >> /S /P /Pg 22 0 R endobj /Pg 22 0 R /Pg 25 0 R /Lang (EN-US) /S /P /Pg 20 0 R << >> endobj /S /Artifact >> 1877 0 R null 1878 0 R null null null 1879 0 R null null null /S /Artifact /Pg 13 0 R /S /P /Pg 22 0 R /S /Artifact << /Pg 25 0 R endobj 1194 0 obj >> /P 5534 0 R 1346 0 obj 1893 0 obj /P 10 0 R 849 0 R null 850 0 R null 851 0 R null 852 0 R null 853 0 R null >> /Pg 25 0 R /Pg 18 0 R 1122 0 obj endobj >> /Lang (EN-US) /K 1330 /K 1208 2521 0 obj 3407 0 obj 2896 0 obj << 271 0 obj /Lang (EN-US) 644 0 obj << /P 5371 0 R << >> >> /Lang (EN-US) >> >> /Lang (EN-US) 3846 0 obj /K 1440 /K 287 2967 0 obj /P 5254 0 R /S /Artifact endobj /K 1518 /Pg 21 0 R /S /Artifact /K 1278 /K 56 2324 0 obj >> /S /P endobj /Pg 24 0 R null 1864 0 R null 1865 0 R null 1866 0 R null null null 1867 0 R /K 1511 /Pg 22 0 R endobj /Pg 24 0 R 2335 0 obj << null null 3870 0 R null null null 3871 0 R null 3872 0 R null /Lang (EN-US) /P 5603 0 R /K 1515 /Pg 22 0 R 4110 0 obj /S /P /K 911 >> 3334 0 obj /Lang (EN-US) /K 354 >> /Lang (EN-US) /Pg 23 0 R /Lang (EN-US) >> << /S /Artifact /K 1111 endobj 3457 0 obj /K 317 << 2121 0 obj /S /Artifact /K 1262 endobj << endobj << endobj endobj /Pg 24 0 R /S /P >> /Pg 24 0 R endobj /K 134 endobj /P 5427 0 R 3067 0 R 3068 0 R 3069 0 R 3070 0 R 3071 0 R 3072 0 R 3073 0 R 3074 0 R 3075 0 R 3076 0 R /K 1523 /K 1461 /Pg 22 0 R /S /P 2330 0 obj /S /Artifact /Lang (EN-US) << endobj /Pg 24 0 R 4281 0 obj /Pg 22 0 R endobj >> /P 6483 0 R >> endobj /Pg 24 0 R /S /Artifact 4057 0 obj << /S /P 2395 0 obj >> >> endobj /Lang (EN-US) /Pg 22 0 R /K 1141 3957 0 obj /S /P endobj >> /Lang (EN-US) /S /P null 611 0 R null 612 0 R 613 0 R null 246 0 R 247 0 R 248 0 R 249 0 R /S /P /K 1378 >> << /Pg 24 0 R /S /P /S /Artifact >> 1628 0 R 1629 0 R null 1630 0 R null 1631 0 R null 1632 0 R null 1633 0 R /S /P /P 6683 0 R >> 2654 0 obj 507 0 obj /Pg 16 0 R /S /P << null 568 0 R null null null null null null null null /Pg 23 0 R << /P 4801 0 R /P 4917 0 R 2966 0 obj >> endobj endobj /Pg 24 0 R /K 451 >> >> /K 732 /P 6756 0 R << /Pg 23 0 R << /S /P /S /Artifact 1258 0 R 1259 0 R 1260 0 R 1261 0 R 1262 0 R 1263 0 R 1264 0 R 1265 0 R 1266 0 R 1267 0 R /P 4948 0 R /Lang (EN-US) 224 0 obj /S /Artifact 2075 0 obj /K 1221 /K [27 419 0 R 38] /Pg 25 0 R >> /K 1304 /K 1365 endobj /Pg 25 0 R /Pg 24 0 R /Pg 24 0 R /K 1048 << 3995 0 obj << /S /P endobj << << /P 4903 0 R Average Loss Rates << /K 1100 /K 198 >> /Pg 24 0 R endobj /Lang (EN-US) endobj >> null 3691 0 R null 3692 0 R null 3693 0 R null 3694 0 R null 3695 0 R /P 5874 0 R /K 1025 /S /P >> endobj 2678 0 obj /K 1282 >> << 2917 0 obj >> 892 0 obj << /Pg 25 0 R 3609 0 obj >> endobj << 2215 0 obj /Pg 25 0 R endobj /K 211 4268 0 obj /P 6084 0 R >> /S /P /K 506 /Pg 22 0 R /S /P 4017 0 R 4018 0 R 4019 0 R 4020 0 R 4021 0 R 4022 0 R 4023 0 R 4024 0 R 4025 0 R 4026 0 R /S /P << /Pg 22 0 R /K 1484 << /Lang (EN-US) /Pg 22 0 R /Pg 24 0 R /P 10 0 R /S /Artifact /S /P 1081 0 obj 4237 0 obj ICE, Bank of America for US High Yield represented by the ICE BofA High Yield. /Pg 25 0 R /Pg 25 0 R /P 4667 0 R /S /Link 1463 0 obj /K 1540 /Lang (EN-US) endobj /P 5133 0 R >> /K 347 3937 0 obj /CropBox [0 0 612 792] 2394 0 obj /S /Artifact 1520 0 obj /Pg 16 0 R 2030 0 obj /P 5444 0 R >> /Pg 19 0 R /S /Artifact << /S /Artifact << /Lang (EN-US) endobj 2692 0 obj /P 6096 0 R /Pg 18 0 R /Lang (EN-US) << V4$)Nj2#(Q)b{+M~j$SB?B4dfnX. endobj endobj /S /Artifact /K 352 /S /Artifact /Lang (EN-US) << /P 10 0 R /Lang (EN-US) 1089 0 obj >> /S /Artifact /K 886 /S /P << /K 488 2468 0 obj 2405 0 obj /K 1037 endobj >> << 4136 0 obj 1180 0 obj /Lang (EN-US) /K 504 << /Pg 25 0 R << >> endobj /Pg 24 0 R endobj /S /P /S /P /Lang (EN-US) 3339 0 obj /K 1440 endobj /K 75 2830 0 obj 2700 0 obj >> 1927 0 obj 1462 0 obj 3468 0 obj 2151 0 obj /Pg 24 0 R << << << /S /P >> >> << 54 0 obj endobj >> /Pg 24 0 R << /S /Artifact >> endobj /P 6089 0 R /S /P /K 1351 << << << 3961 0 obj endobj 3605 0 obj /Lang (EN-US) << /S /P 4608 0 R] 2411 0 obj 416 0 obj >> /K 401 283 0 obj endobj 3416 0 obj << /K 270 1005 0 obj /Lang (EN-US) /P 4404 0 R /Pg 24 0 R /Lang (EN-US) >> >> /Lang (EN-US) /Pg 23 0 R /S /P >> /S /P /Lang (EN-US) 2409 0 obj >> /Pg 25 0 R << << << /K 4 /P 4832 0 R /K 3 /K 392 /S /P << /S /Artifact /K 170 endobj >> /S /P /K 90 /P 5915 0 R 1514 0 obj endobj << /K 668 4421 0 R 4422 0 R 4423 0 R 4424 0 R 4425 0 R 4426 0 R 4427 0 R 4428 0 R] << << << >> /Pg 23 0 R endobj /S /Artifact << endobj /Lang (EN-US) endobj 3719 0 obj /Lang (EN-US) << 2516 0 obj /Underline /Span << /S /P /Pg 23 0 R 3224 0 obj << /Pg 22 0 R 4147 0 obj /S /Artifact endobj 1825 0 obj /K 1241 endobj endobj /Pg 20 0 R /K 1232 /K 858 /S /P /Pg 23 0 R endobj /Lang (EN-US) >> /K 195 >> /S /Artifact 1708 0 obj /S /Artifact 562 0 obj 177 0 obj 792 0 obj 1739 0 obj << 3835 0 obj endobj 934 0 obj /Lang (EN-US) >> /Lang (EN-US) 3525 0 obj << /K 607 >> /P 5572 0 R endobj /S /Artifact /K 1021 /Lang (EN-US) /P 6268 0 R /S /P << endobj /K 1305 /Pg 25 0 R 1347 0 obj /K 115 endobj << /K 1133 /S /P /S /Artifact >> endobj << 2832 0 obj /K 198 /Lang (EN-US) >> /Lang (EN-US) << endobj << >> /K 1270 3147 0 R 3148 0 R 3149 0 R 3150 0 R 3151 0 R 3152 0 R 3153 0 R 3154 0 R 3155 0 R 3156 0 R << /S /P 3328 0 obj /K 678 << /K 574 << 3629 0 obj << >> /Pg 22 0 R << << /S /P endobj /Lang (EN-US) /S /P >> << endobj >> >> endobj /K 32 >> endobj /Pg 18 0 R << >> /Lang (EN-US) >> 1813 0 obj >> /P 6586 0 R /Lang (EN-US) 204 0 obj endobj 467 0 obj

5 Reasons Why Teachers Should Be Armed, Illinois State Cup Schedule, Articles C

cliffwater direct lending index