CL
CLIFFWATER LLC
SEC RegisteredMARINA DEL REY, CAhttps://bdcs.com310-448-5000
Assets Under Management
$25B+
Employees
213
Office Locations
4 offices
Total Accounts
25
About the firm
Firm Focus
Client segments reported on the firm's SEC Form ADV — applies to all advisors at the firm.
High Net WorthInvestment CompaniesPooled VehiclesPension/Profit SharingCharitable OrganizationsState/MunicipalInsurance Companies
Who they serve
| Client segment | Clients | Assets managed |
|---|---|---|
| Individuals (Non-HNW) | 0 | $0 |
| High Net Worth Individuals | 10 | $172M |
| Investment Companies | 2 | — |
| Pooled Investment Vehicles | 0 | $0 |
| Pension/Profit Sharing Plans | 4 | $813M |
| Charitable Organizations | 7 | $457M |
| State/Municipal Entities | 2 | — |
| Insurance Companies | 3 | — |
| Sovereign Wealth Funds | 0 | — |
| Corporations | 1 | $0 |
25 total clients reported on Form ADV.
Leadership
Stephen Lane Nesbitt
CHIEF EXECUTIVE OFFICER
Jonathan Adam Rogal
SENIOR MANAGING DIRECTOR / GENERAL COUNSEL
Lance Jeremy Johnson
CHIEF FINANCIAL OFFICER / CHIEF OPERATIONS OFFICER
Michael Bruce Cowart
CHIEF COMPLIANCE OFFICER
Cw Intermediate Llc
MEMBER
Cw Parent Llc
MEMBER
Stephen Lane Nesbitt
MANAGER
Stephen B Nesbitt
MANAGER
Cw Rollover Lp
GENERAL PARTNER
Stephen Lane Nesbitt
LIMITED PARTNER
Michael Roy Burns
MANAGER
Todd Richard Crockett
MANAGER
Office locations
4 offices in 3 states
CA
MARINA DEL REYHQ
NY
NEW YORK
IL
CHICAGO
CA
NEWPORT BEACH
Regulatory & compliance
CRD number
#132167
SEC Number
801-63344
Disciplinary History
No
Fee Model & Minimums
Model: AUM / Flat Fee
Data as of March 30, 2026 · Source: SEC IAPD & FINRA BrokerCheck
Contact Information
Website
bdcs.comPhone
310-448-5000Find an advisor that fits
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Editorial disclosure
This profile was compiled and published by AdvisorFinder as editorial content using publicly available information from the SEC's IAPD database and FINRA BrokerCheck. CLIFFWATER LLC has not reviewed, approved, or endorsed this profile and is not responsible for its accuracy. Regulatory records change over time — always verify the current record directly on the SEC or FINRA websites before making any decision.