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Cliffwater Corporate Lending Fund Prorates Again as Q3 Requests Hit 16%
AltsWire reports that Cliffwater Corporate Lending Fund limited third-quarter repurchases to 5% of shares after requests reached approximately 16%. That means roughly one-third of requested shares would be accepted, following a second quarter that also required proportional allocation.
The report distinguishes those offers from the first quarter, when Cliffwater expanded the repurchase to 7%. It also notes that unfilled requests do not automatically carry into the next tender and receive no priority when resubmitted. A cumulative withdrawal figure across several quarters is therefore different from the latest offer's acceptance rate.
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