<< /K 1091 /Pg 13 0 R 4187 0 obj << /P 6123 0 R /Pg 22 0 R /S /P >> << /P 6228 0 R /K 1017 endobj >> /K 1029 /S /Artifact /K 104 /S /P << 130 0 obj /K 852 << /K 1228 /Lang (EN-US) /Pg 13 0 R /S /Figure /S /P 3820 0 obj << >> >> << endobj /K 1250 /Pg 23 0 R /S /P 1149 0 obj /K 1181 /K 400 /P 5444 0 R /K 1174 /S /Artifact /K 1542 /Pg 25 0 R /K 1038 /Pg 22 0 R 1626 0 obj /Pg 20 0 R 3811 0 obj /S /P << << /K 173 << /Lang (EN-US) /K 956 << >> /K 1497 /Lang (EN-US) /K 25 /P 5830 0 R 292 0 obj /Pg 24 0 R 1820 0 obj 4134 0 R 4135 0 R 4136 0 R 4137 0 R 4138 0 R 4139 0 R 4140 0 R 4141 0 R 4142 0 R 4143 0 R /S /Artifact << /P 6333 0 R /P 5493 0 R /P 4706 0 R /K 1364 /Lang (EN-US) /Pg 23 0 R /K 1432 << /StructParents 7 endobj /Pg 23 0 R /P 5615 0 R >> /K 223 >> /S /P /S /Artifact /K 338 432 0 obj << 3226 0 obj 4472 0 R 4473 0 R 4474 0 R 4475 0 R 4476 0 R 4477 0 R 4478 0 R 4479 0 R 4480 0 R 4481 0 R endobj /Resources 4365 0 R /Pg 24 0 R << /K [37 4670 0 R] /P 5748 0 R /Lang (EN-US) /Pg 18 0 R /Lang (EN-US) /P 5054 0 R << /K 1485 << >> /Lang (EN-US) << /S /P endobj /Pg 25 0 R /S /P >> << endobj /P 6599 0 R /S /P /S /P << /Pg 24 0 R << endobj /K 294 /Pg 23 0 R /K 884 /P 4754 0 R /Pg 22 0 R /K 368 /Pg 22 0 R /S /Artifact /Lang (EN-US) /K 579 /P 10 0 R /Pg 22 0 R << endobj >> /CropBox [0 0 612 792] >> 240 0 obj /S /P << /K 513 << /S /P endobj /Pg 25 0 R endobj /P 6743 0 R /Lang (EN-US) 1536 0 obj The unsmoothed volatility adjustment for the CDLI is 4.5%, which is roughly less than that of the blended public credit index (shown in Exhibit C). >> endobj /Pg 24 0 R << << << endobj /S /Artifact >> /K 518 /S /P >> 1654 0 obj >> endobj 3651 0 obj /S /Artifact >> endobj /Underline /Span /S /P /Pg 23 0 R null 2673 0 R null 2674 0 R null 2675 0 R null 2676 0 R null 2677 0 R >> >> /S /Artifact /S /Artifact /S /P 3487 0 obj /P 10 0 R Seeking income throughout the cycle with direct lending. /Pg 23 0 R 750 0 obj /K 84 endobj /S /P /Lang (EN-US) /Lang (EN-US) >> 3929 0 obj /K 693 << /Pg 24 0 R >> endobj 2722 0 obj /S /Artifact /P 5180 0 R /S /P /Type /Page /S /Artifact 1510 0 obj 4150 0 obj /S /P << /P 5779 0 R endobj /Pg 23 0 R << >> 1508 0 obj /S /P endobj /K 46 2370 0 obj /K 1176 /S /P /S /P 321 0 obj << 1469 0 obj /Pg 24 0 R /K 1245 1165 0 obj << >> /Producer (Adobe PDF Library 22.1.149) endobj << << /K 404 /S /Artifact 3356 0 obj /K 981 << /K 297 /Lang (EN-US) /S /Artifact /K 19 /P 10 0 R /Pg 22 0 R /K 437 null null null 2833 0 R null 2834 0 R null 2835 0 R null 2836 0 R 168 0 obj 3886 0 obj /P 4827 0 R 646 0 obj /S /Artifact /Lang (EN-US) /Pg 23 0 R /S /LBody endobj /K 486 /Pg 24 0 R /S /Artifact endobj /Pg 25 0 R 2046 0 R 2047 0 R 2048 0 R 2049 0 R 2050 0 R 2051 0 R 2052 0 R 2053 0 R 2054 0 R 2055 0 R 2934 0 obj >> /P 6481 0 R /S /P endobj /Pg 24 0 R endobj /P 10 0 R endobj /K 1370 /P 6604 0 R endobj 2724 0 R null 2725 0 R null 2726 0 R null 2727 0 R null 2728 0 R null /Pg 22 0 R << /Pg 24 0 R >> endobj /Pg 18 0 R << /Pg 25 0 R 3979 0 obj 3409 0 obj 4244 0 obj /K 929 >> /Pg 22 0 R /S /P /K 886 /S /Artifact /Lang (EN-US) /Pg 23 0 R /Pg 24 0 R /K 1352 /Pg 23 0 R /S /LBody /Pg 25 0 R >> /Pg 23 0 R << /K 1345 << << 9 [263 0 R 264 0 R 265 0 R 266 0 R 267 0 R 268 0 R 269 0 R 270 0 R 271 0 R 272 0 R endobj 111 0 R 107 0 R 107 0 R 107 0 R 107 0 R 107 0 R 133 0 R 133 0 R 133 0 R 133 0 R /Pg 23 0 R /Lang (EN-US) >> /S /P null 3434 0 R null 3435 0 R null 3436 0 R null 3437 0 R null 3438 0 R /S /P /Pg 18 0 R 3199 0 obj endobj >> /P 5962 0 R 3114 0 obj << /S /P 3997 0 R 3998 0 R 3999 0 R 4000 0 R 4001 0 R 4002 0 R 4003 0 R 4004 0 R 4005 0 R 4006 0 R /Lang (EN-US) /Pg 23 0 R /P 5926 0 R /Pg 23 0 R /S /Artifact << 4317 0 obj /P 5377 0 R endobj >> /K 403 1396 0 obj /Pg 14 0 R /K 45 /P 5343 0 R endobj 746 0 obj endobj /P 434 0 R /K 856 /P 4403 0 R /Lang (EN-US) /Lang (EN-US) /K 159 /K 143 >> >> /Pg 25 0 R << /K 1382 endobj 4027 0 obj >> /Pg 22 0 R /Lang (EN-US) 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R 65 0 R 66 0 R /P 5386 0 R /P 6443 0 R /K 882 /Pg 22 0 R /S /P >> /S /P >> >> /K 1409 /S /Artifact >> /K 720 3654 0 obj /P 10 0 R >> /Lang (EN-US) << >> /S /P /Lang (EN-US) /Lang (EN-US) << << /P 6568 0 R /S /P 1962 0 obj 1579 0 R null 1580 0 R 1581 0 R null 1582 0 R null 1583 0 R null 1584 0 R << /Pg 23 0 R endobj endobj /S /LBody /P 5666 0 R /P 5510 0 R endobj endobj 3568 0 obj << 3027 0 R 3028 0 R 3029 0 R 3030 0 R 3031 0 R 3032 0 R 3033 0 R 3034 0 R 3035 0 R 3036 0 R << /S /Artifact /K 788 endobj /Pg 24 0 R /Pg 23 0 R << /K 7 endobj endobj 2784 0 obj /S /Artifact /P 6642 0 R /S /P /K 1170 endobj /S /P 2070 0 obj << /Pg 24 0 R >> /S /Artifact /P 6324 0 R /Lang (EN-US) << >> /S /Artifact /S /P endobj /Pg 23 0 R endobj /Lang (EN-US) /Lang (EN-US) /K 52 /K 1172 1646 0 obj >> /S /Artifact /Lang (EN-US) << << >> endobj /Lang (EN-US) /MediaBox [0 0 612 792] /K 748 /Lang (EN-US) endobj /K 22 /Lang (EN-US) /Lang (EN-US) << /P 6159 0 R >> /S /P /S /P endobj /Pg 25 0 R << >> 296 0 obj << /Lang (EN-US) /S /Artifact << /S /P endobj /Pg 25 0 R /Pg 23 0 R /Pg 25 0 R /Pg 22 0 R /K 956 >> << 2807 0 obj /K 575 1220 0 obj D:20220524090108 << 3972 0 obj /S /P /Pg 22 0 R << endobj /Pg 25 0 R << << /S /P << /S /Artifact /Pg 22 0 R endobj /S /P Is Private Credit a Bubble, or Just a Little Frothy? endobj << >> endobj endobj /Pg 22 0 R 1539 0 obj /P 10 0 R /Pg 22 0 R >> /P 5898 0 R /P 6617 0 R /Pg 22 0 R /P 4639 0 R /Pg 25 0 R /K 1267 << >> /S /Artifact /P 5496 0 R << /S /P /Lang (EN-US) >> 3158 0 obj /K 1314 /Pg 22 0 R /S /P 2424 0 obj /Pg 23 0 R >> endobj /Lang (EN-US) 50 0 obj /P 5703 0 R /Pg 23 0 R >> /Lang (EN-US) /Pg 13 0 R >> /K 715 639 0 obj /Pg 25 0 R >> >> >> 947 0 obj /K 1469 endobj endobj /P 10 0 R >> 4303 0 obj 254 0 obj << << << /K 42 /Lang (EN-US) 1144 0 obj 2259 0 obj >> 236 0 obj >> endobj 4067 0 obj /K 736 /S /P /K 454 /K 792 << /P 5157 0 R /P 5599 0 R /K 1445 /Lang (EN-US) /Pg 23 0 R /Pg 23 0 R /P 6442 0 R /S /Artifact << /S /P 1234 0 obj /S /Artifact 4089 0 obj /Lang (EN-US) /Lang (EN-US) >> /K 1220 endobj /S /Artifact 502 0 obj /Lang (EN-US) endobj /S /P /S /P endobj endobj /Pg 23 0 R /K 1272 /S /P /Lang (EN-US) << 2941 0 obj /P 6464 0 R 2638 0 obj endobj /K 925 /S /P >> endobj /Lang (EN-US) endobj << << endobj << /Lang (EN-US) 118 0 obj >> << /P 10 0 R << /S /P endobj << >> 683 0 obj /K 260 4140 0 obj /Pg 22 0 R endobj /K 1125 /Lang (EN-US) /Pg 22 0 R /Pg 25 0 R 2801 0 R null 2802 0 R 2803 0 R null 2804 0 R null 2805 0 R null 2806 0 R >> Cliffwater is an alternative investment adviser and fund manager. /Pg 23 0 R /S /Artifact endobj 3087 0 R 3088 0 R 3089 0 R 3090 0 R 3091 0 R 3092 0 R 3093 0 R 3094 0 R 3095 0 R 3096 0 R >> /S /Artifact /Lang (EN-US) /Pg 23 0 R << endobj /Pg 24 0 R << 2354 0 obj << /Pg 25 0 R /S /P /S /P /K 1046 << /Lang (EN-US) >> 814 0 obj /P 6301 0 R 3347 0 obj /S /P /P 10 0 R 3987 0 R 3988 0 R 3989 0 R 3990 0 R 3991 0 R 3992 0 R 3993 0 R 3994 0 R 3995 0 R 3996 0 R 3631 0 obj /Pg 23 0 R >> /S /Artifact >> /S /P 1129 0 obj >> >> 3970 0 obj Cliffwater estimates that the average coupon to the loans in their index over this horizon has been about 10.2 percent, with about 1 percent of net credit losses per year. endobj /S /Artifact /Lang (EN-US) /P 4942 0 R /K 1396 /K 418 0 R 898 0 obj endobj << /K 1376 806 0 obj >> /Pg 25 0 R /S /P 3242 0 obj >> >> endobj /Lang (EN-US) /K 60 /Lang (EN-US) >> /Pg 25 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 4203 0 R >> /P 6310 0 R Mid-market direct lending loans in the US enjoyed a year of strong performance in 2021 according to the Cliffwater Direct Lending Index, an index compiled by investment adviser and fund manager Cliffwater of 8,000 mid-market loans totalling $191 billion at the end of last year. /Lang (EN-US) endobj >> /K 702 >> /K 635 /S /Artifact endobj >> << /Lang (EN-US) /S /Artifact /S /Artifact /S /P endobj >> >> /Lang (EN-US) /Lang (EN-US) /K 1091 /K 572 /K 1149 /K 412 /P 5113 0 R /Lang (EN-US) >> /Pg 25 0 R /K 683 << << /P 6407 0 R << /P 5515 0 R endobj >> /S /P /K 34 endobj endobj /Lang (EN-US) /Lang (EN-US) /K 298 /K 1332 >> /K 19 endobj /Pg 25 0 R 2098 0 obj /Pg 24 0 R /K 1436 >> /Pg 24 0 R << 1826 0 obj << /P 6238 0 R /S /P endobj 1068 0 obj >> << /K 1240 /S /Artifact /S /P /P 6744 0 R /K 815 /P 6204 0 R /Pg 24 0 R /P 6490 0 R >> /K 1102 /P 5722 0 R 2554 0 obj 3753 0 R null 3754 0 R null 3755 0 R null 3756 0 R 3757 0 R null 3758 0 R /Pg 24 0 R /Pg 25 0 R /S /P 2842 0 obj << 3941 0 obj >> /K 47 526 0 obj /P 5203 0 R /S /P >> /K 322 endobj 767 0 obj 4274 0 R 4275 0 R 4276 0 R 4277 0 R 4278 0 R 4279 0 R 4280 0 R 4281 0 R 4282 0 R 4283 0 R endobj endobj << << endobj << 1700 0 obj 164 0 obj /Lang (EN-US) /A 4458 0 R /Pg 25 0 R << >> endobj /S /P /P 4840 0 R /P 5788 0 R Infra: Bloomberg mnemonic Infra300 Index; Private Credit: Cliffwater Direct Lending Index; Real Estate: . /Lang (EN-US) /K 1182 << 2580 0 obj /Pg 25 0 R << endobj /S /Artifact /K 264 endobj /K 318 << >> 906 0 obj >> /K 397 /Lang (EN-US) << /Pg 24 0 R /S /Artifact 1587 0 obj /S /Artifact /Lang (EN-US) /Pg 24 0 R endobj << /K 2 /K 325 /Pg 23 0 R /K 1168 endobj /S /Artifact >> >> endobj /P 5196 0 R 450 0 obj >> /K 275 /Pg 23 0 R endobj >> >> >> /Lang (EN-US) /Lang (EN-US) /Lang (EN-US) >> >> 2788 0 obj endobj /S /Artifact /Lang (EN-US) /K 554 >> /Kids [18 0 R 19 0 R 20 0 R 21 0 R 22 0 R 23 0 R 24 0 R 25 0 R 26 0 R] /Pg 25 0 R /P 37 0 R /S /P /K 433 >> << /K 1158 /K 91 /Lang (EN-US) >> /Pg 24 0 R >> /Lang (EN-US) /S /P /Pg 22 0 R << /P 5606 0 R << 1457 0 obj /Lang (EN-US) /Pg 25 0 R 2058 0 obj /K 1344 /K 44 /Pg 23 0 R << 2056 0 obj /Pg 25 0 R >> /S /P >> endobj endobj /Pg 22 0 R /P 5961 0 R /Pg 24 0 R /P 5337 0 R /S /Artifact /Parent 9 0 R 2900 0 obj /K [15 411 0 R 134] /S /P /P 6454 0 R /K 1528 199 0 obj >> /S /P >> /Lang (EN-US) /S /Artifact >> /Pg 18 0 R 3563 0 obj /Pg 25 0 R << /Pg 24 0 R 1236 0 obj /S /P /P 6232 0 R 660 0 obj endobj << /Pg 25 0 R >> /Lang (EN-US) null 2651 0 R null 2652 0 R null 2653 0 R 2654 0 R null 2655 0 R null /K 1043 /Pg 25 0 R << 1909 0 obj Find the latest Cliffwater Corporate Lending Fund Class I (CCLFX) stock quote, history, news and other vital information to help you with your stock trading and investing. /K 1226 /K 350 >> /S /P /P 10 0 R /K 69 /K 917 /K 1484 << /Lang (EN-US) 870 0 obj /S /P /S /P >> /Pg 23 0 R /Lang (EN-US) /K 670 >> >> /K 1013 99 0 obj endobj >> /Lang (EN-US) /S /P /K 1062 /S /Artifact endobj << endobj << /S /P 3120 0 obj /S /Artifact >> /S /Artifact /K [4 445 0 R 46] /S /Artifact /S /P /S /Artifact >> << /S /P endobj /K 140 << 2858 0 obj /P 10 0 R >> /S /P endobj << /S /Artifact /K 514 << /K 1216 2892 0 obj /K 244 >> /S /P /S /P << 571 0 obj 2879 0 obj << >> /Pg 22 0 R /Pg 25 0 R endobj /S /P /S /P /K [1118 1119] /Lang (EN-US) /K 93 3157 0 R 3158 0 R 3159 0 R 3160 0 R 3161 0 R 3162 0 R 3163 0 R 3164 0 R 3165 0 R 3166 0 R >> << /K 1307 /Pg 23 0 R /CropBox [0 0 612 792] /Pg 18 0 R /K 67 endobj /S /Artifact << /P 5272 0 R /Pg 20 0 R /K 193 endobj /Pg 13 0 R /Lang (EN-US) /Pg 22 0 R << 2276 0 obj endobj 1659 0 obj << endobj << >> endobj 1171 0 obj << /Pg 24 0 R endobj /P 4431 0 R /S /Artifact >> /Pg 22 0 R /K 1129 << 3042 0 obj >> /Lang (EN-US) endobj /Pg 23 0 R /P 4955 0 R /S /Artifact endobj /S /P 2234 0 obj 1064 0 obj /P 5369 0 R 4 [103 0 R 104 0 R 105 0 R 106 0 R 108 0 R 109 0 R 110 0 R 111 0 R 113 0 R 114 0 R /Pg 22 0 R /Pg 18 0 R endobj /Lang (EN-US) /K 378 /K 1013 /K 1240 237 0 R 238 0 R 239 0 R 240 0 R 241 0 R 242 0 R 243 0 R 244 0 R 245 0 R 246 0 R >> 3965 0 obj /P 6312 0 R 1491 0 obj /S /P /P 10 0 R /P 6129 0 R 2255 0 obj /K 1130 /K 615 /Pg 22 0 R >> 86 0 obj endobj /S /LBody << /K 1426 /K 824 /S /Artifact /S /Artifact /Pg 22 0 R 1535 0 R 1536 0 R 1537 0 R 1538 0 R 1539 0 R 1540 0 R 1541 0 R 1542 0 R 1543 0 R 1544 0 R >> /K 1398 /K 302 /K 549 /Pg 25 0 R /Pg 24 0 R /K 50 >> 3647 0 obj >> /Pg 26 0 R << << >> /K 1477 endobj /K 381 /K 298 /K 760 /Pg 24 0 R /S /Artifact /Lang (EN-US) /Pg 23 0 R /Pg 22 0 R /S /Artifact endobj /Pg 24 0 R << /K 533 /K 686 endobj /S /Artifact endobj 2642 0 obj endobj endobj /S /P /K 324 << /Pg 23 0 R CDLI Quote - Cliffwater Direct Lending Index - Total Return - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Daybreak Asia Bloomberg Daybreak Asia. /P 4986 0 R >> /Pg 22 0 R /Pg 22 0 R endobj >> /Lang (EN-US) >> /S /Artifact endobj /Lang (EN-US) /Lang (EN-US) >> 3668 0 obj /Lang (EN-US) >> endobj /K 1124 endobj << 4141 0 obj /S /Artifact 7 0 obj 1127 0 obj /K 5 endobj endobj endobj << >> /Pg 23 0 R /Lang (EN-US) << /Pg 23 0 R endobj >> >> /P 5777 0 R /DropCap /Figure /MediaBox [0 0 612 792] endobj 3216 0 obj << 3963 0 obj /K 68 3254 0 obj >> /P 4961 0 R /Pg 22 0 R /K 464 2536 0 R null 2537 0 R null 2538 0 R null null null 2539 0 R null 2737 0 obj /Pg 23 0 R 3752 0 obj /S /P 4250 0 obj /K 33 /Pg 25 0 R endobj /S /P /Pg 25 0 R /K 1031 /K 65 endobj /Pg 25 0 R /P 4791 0 R /S /P endobj /S /P >> 3663 0 obj >> /Pg 24 0 R /Pg 22 0 R endobj /Pg 24 0 R /Pg 25 0 R << endobj /K 1069 << 849 0 R null 850 0 R null 851 0 R null 852 0 R null 853 0 R null endobj /K 1175 92 0 obj endobj /P 5004 0 R /K 1440 /Pg 21 0 R /P 6506 0 R /S /Artifact endobj /Pg 14 0 R << /P 5882 0 R /Lang (EN-US) << 1507 0 obj << endobj 3547 0 obj /K 1358 << /S /P 482 0 obj /Lang (EN-US) /K 1133 /Lang (EN-US) >> endobj /Border [0 0 0] >> >> /S /Artifact 2748 0 R null null null 2749 0 R null 2750 0 R null 2751 0 R null 1995 0 obj /P 5395 0 R /K 532 >> 3699 0 obj << /S /P /Pg 23 0 R /Pg 23 0 R /Lang (EN-US) /P 5382 0 R /S /P /Pg 24 0 R endobj /Pg 23 0 R 1917 0 obj /Pg 25 0 R /P 5478 0 R /Lang (EN-US) /Pg 22 0 R >> << << /P 5451 0 R 167 0 obj endobj /Lang (EN-US) << endobj /Lang (EN-US) endobj /P 4950 0 R /Pg 23 0 R /K 1319 /Pg 24 0 R endobj /P 10 0 R /Pg 24 0 R << /Lang (EN-US) /K 92 << /K 1192 << /Pg 22 0 R /S /P /S /P /K 1251 2997 0 R 2998 0 R 2999 0 R 3000 0 R 3001 0 R 3002 0 R 3003 0 R 3004 0 R 3005 0 R 3006 0 R >> 3622 0 obj 2390 0 obj << << /S /P << >> /P 5309 0 R 1178 0 obj /P 5448 0 R << endobj >> >> /S /Artifact /K 424 /P 4945 0 R /K 604 endobj >> 4023 0 obj 1955 0 obj >> >> >> /S /P /Lang (EN-US) 3899 0 R 3900 0 R 3900 0 R 3901 0 R 3902 0 R 3903 0 R 3904 0 R 3905 0 R 3905 0 R 3906 0 R endobj /Pg 25 0 R 225 0 obj /S /P endobj /K 1378 /P 4820 0 R /S /Artifact endobj /P 10 0 R endobj /Lang (EN-US) /S /P /Pg 24 0 R /P 6738 0 R /Pg 23 0 R /S /P 307 0 obj /P 10 0 R endobj >> /S /P /K 1247 /Pg 25 0 R >> /K 426 3139 0 obj >> 1885 0 R 1886 0 R null 1887 0 R null 1888 0 R null 1889 0 R null 1890 0 R << << 1079 0 obj endobj /Lang (EN-US) /Lang (EN-US) >> /S /Artifact /S /Artifact /Pg 22 0 R /K 2 /P 6174 0 R 4109 0 obj /Lang (EN-US) 4198 0 obj /K 439 >> /Lang (EN-US) >> /K 359 /Pg 25 0 R 4119 0 obj /P 4783 0 R /S /Artifact Live from New York and Hong Kong,. /P 5995 0 R /K 553 >> /Pg 25 0 R /Lang (EN-US) >> 359 0 obj /S /P /K 869 >> /Pg 23 0 R 4149 0 obj endobj /K 1497 2363 0 R 2364 0 R 2365 0 R 2366 0 R 2367 0 R 2368 0 R 2369 0 R 2370 0 R 2371 0 R 2372 0 R 3150 0 obj /P 5355 0 R << /P 5610 0 R << /P 6042 0 R 567 0 obj << endobj /P 4958 0 R << /Pg 24 0 R >> 1303 0 obj << 3422 0 obj << 1525 0 R 1526 0 R 1527 0 R 1528 0 R 1529 0 R 1530 0 R 1531 0 R 1532 0 R 1533 0 R 1534 0 R /Lang (EN-US) /K 1477 /Pg 23 0 R 2239 0 obj << >> /K 607 >> >> 1660 0 obj << >> /S /Artifact /Lang (EN-US) /Lang (EN-US) /P 6152 0 R endobj << /K [95 96 97 98 99 100 101 102 103] /Lang (EN-US) endobj /Lang (EN-US) >> /S /P 2763 0 obj /P 5313 0 R /K 1 /S /Artifact Performance. /Lang (EN-US) 397 0 obj endobj /K [47 4688 0 R] /Pg 18 0 R /K 774 4053 0 obj << 2048 0 obj << 2553 0 obj /K 931 >> /K 43 /P 5735 0 R /K 902 >> null 3688 0 R null 3689 0 R null null null 3690 0 R null null << /P 6622 0 R >> 1434 0 obj endobj << endobj >> /P 6258 0 R 1872 0 obj /P 6621 0 R /Pg 17 0 R endobj /P 5716 0 R /P 6057 0 R << endobj /Lang (EN-US) << /K 1151 /K 1094 /S /Artifact << /Lang (EN-US) << /S /Artifact /A 6766 0 R /Lang (EN-US) /S /P /Pg 23 0 R /S /Artifact /K 1527 /K 1468 /S /Artifact /K 49 2333 0 obj /P 5904 0 R /Lang (EN-US) /K 25 /Pg 22 0 R null 2523 0 R null 2524 0 R null 2525 0 R null 2526 0 R null null endobj /Lang (EN-US) << /S /P endobj PDF 2022 Q2 Report on U.S. Direct Lending /P 5574 0 R /Pg 20 0 R /K 304 /Pg 22 0 R /K 1293 /Lang (EN-US) /K 43 /Pg 23 0 R 2151 0 obj 1724 0 obj null 3559 0 R 3560 0 R null 3561 0 R null 3562 0 R null 3563 0 R null /H /I /P 4911 0 R 3455 0 obj >> 133 0 obj endobj /K 1363 /Pg 24 0 R 2751 0 obj /Lang (EN-US) 70 0 obj 3533 0 obj /S /P /P 5745 0 R >> 3540 0 obj >> endobj /Pg 23 0 R >> >> /Pg 22 0 R /Lang (EN-US) 2562 0 obj 3773 0 obj << endobj >> /S /Artifact 4204 0 R 4205 0 R 4206 0 R 4207 0 R 4208 0 R 4209 0 R 4210 0 R 4211 0 R 4212 0 R 4213 0 R << << endobj /S /Artifact /Lang (EN-US) /K 114 /S /P /Pg 22 0 R endobj >> >> /P 5799 0 R 125 0 obj << /K 537 endobj >> << 1259 0 obj << /P 5003 0 R /K 1019 /K 1199 << 2303 0 obj /K 1513 endobj endobj /K 117 endobj /Pg 24 0 R endobj << /S /Artifact /K [4435 0 R 4436 0 R 4437 0 R 4438 0 R] << >> >> endobj /Lang (EN-US) /K 410 endobj endobj >> /Pg 24 0 R /K 1378 >> >> /K 138 2578 0 obj 2156 0 R 2157 0 R 2158 0 R 2159 0 R 2160 0 R 2161 0 R 2162 0 R 2163 0 R 2164 0 R 2165 0 R >> << >> /P 6376 0 R /P 5383 0 R /S /Artifact >> endobj /P 5413 0 R >> << << 2953 0 obj /Pg 24 0 R >> /K 20 /Lang (EN-US) endobj /Pg 25 0 R /P 6476 0 R 2287 0 obj 1932 0 obj << << /S /Artifact 476 0 obj /Lang (EN-US) 2669 0 obj >> 1277 0 obj 3822 0 obj >> /S /Artifact << 257 0 R 258 0 R 259 0 R 260 0 R 261 0 R 262 0 R 263 0 R 264 0 R 265 0 R 266 0 R 2825 0 obj /K 1187 /Lang (EN-US) /Pg 25 0 R endobj /P 5616 0 R endobj endobj endobj /S /P 471 0 obj 1582 0 obj /K 879 endobj /Lang (EN-US) /P 5487 0 R << /K 190 /K 224 /Pg 23 0 R << endobj /Pg 24 0 R /K 1195 >> /P 5455 0 R >> << >> /K 1526 /S /P 2027 0 R null 2028 0 R null 2029 0 R 2030 0 R null 2031 0 R null 2032 0 R 248 0 obj endobj >> << >> << << /Pg 23 0 R /K 1448 endobj /Pg 23 0 R >> endobj /Pg 23 0 R /P 10 0 R endobj /P 6261 0 R << /S /P /S /P /Pg 22 0 R /P 6224 0 R /S /Artifact 1577 0 obj /Lang (EN-US) /P 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