The Ledger
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Nesbitt: Cliffwater flagship fund exceeds $20B, offering $1B quarterly repurchase
“Our flagship fund is over twenty billion dollars, so a billion dollars will offer repurchase. We have to have liquidity to meet that potential of a billion dollars, and so we don't want to hold cash, because cash is a drag, People are paying us to hold private…”
Nesbitt: Cliffwater interval fund met all redemptions except one COVID quarter
“The only thing that's restrictive is getting out. So you can only get out once a quarter, generally a fund level gate of five percent. But for us, except for one quarter during COVID, anybody who wanted to get out on any quarter could get out.”