Cliffwater LLC is a large advisory firm based in Marina Del Rey. It manages $1.7 billion of regulatory assets for 20 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, New Jersey, and New York.
Cliffwater provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and publication of indices; provider of due diligence research reports. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Cliffwater LLC is $1.7 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 741% since the beginning of its operation, and $209.18 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Cliffwater LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to investment companies, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Dennis Richard Sugino is pension and profit sharing plans with 7 clients and $294.33 million of assets under management. Among the 7 most similar advisory firms, Cliffwater has the highest percentage of pension and profit sharing plans out of all clients.
The amount of regulatory assets under management is $414.03 million for 25 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 6% of the firm’s clients are foreign persons or businesses.
Cliffwater doesn't advise any private funds.
The company employs 43 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
Dennis Richard Sugino has been acting as President since 1 Feb 2005. Mario Arthur Indelicato joined the executive team most recently as the Chief Compliance Officer.
The principal office where Cliffwater LLC performs its advisory services is located at 4640 Admiralty Way, Marina Del Rey, CA 90292 6623, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 310-448-5000 or by fax 310-448-5001. The normal business hours are 8:00 am to 5:00 pm (pt) on Monday - Friday. You can find more information about the New York firm at bdcs.com.