Stephen L. Nesbitt, Chief Executive Officer and Chief Investment Officer of the Investment Manager, is primarily responsible for the day-to-day management of the Fund. Mr. Nesbitt has been the portfolio manager of the Fund since its inception. Prior to forming the Investment Manager in 2004, Mr. Nesbitt was a Senior Managing Director at Wilshire Associates. From 1990 to 2004, Mr. Nesbitt led the Consulting division at Wilshire Associates and also started and built its asset management business using a “manager of managers” investment approach, including private equity and hedge fund-of-fund portfolios. Mr. Nesbitt started his career at Wells Fargo Investment Advisors, an early pioneer in index funds, where he developed and managed index funds and oversaw asset allocation

Frances Beyers, Portfolio Manager, serves as the head of the Investment Manager’s capital markets group. In this role, she is responsible for sourcing middle market lending opportunities and maintaining manager relationships to support the Investment Manager’s rapidly growing multi-manager private debt asset management business. She also oversees the Fund's financing and liability management function. Prior to joining Cliffwater in 2020, Ms. Beyers was Head of Middle Market Loan Analysis for Refinitiv. Previous roles include underwriting and portfolio management at Churchill Asset Management and Corporate Finance Advisory at JPMorgan. She earned a B.S. in Business Administration from Washington University in St. Louis.

Caitlin Nemeth, Portfolio Manager, leads the credit research and investment team for the Fund. She is responsible for the Fund’s new program development with Investment Partners, cultivating manager relationships, investment and co-investment selection and structuring. Prior to joining the Investment Manager in 2021, Ms. Nemeth spent over a decade at Antares Capital and its predecessor GE Capital, where she was responsible for structuring, underwriting, and managing sponsored transactions and helped build the firm’s asset management business. Ms. Nemeth earned a B.B.A. in Finance, Investments, and Banking from the University of Wisconsin — Madison.

Samir Patel, British. Samir joined Charlemagne Capital in October 2004. Prior to joining Charlemagne Capital, he was Senior Portfolio Manager responsible for investments in the Latin American and EMEA regions for Pictet Asset Management in London. He was the manager of the Pictet Latin American fund from January 2000, which was consistently ranked in the top quartile among its peers. He was at Pictet for nine years, before which Samir was employed by Fidelity and Datastream. Samir studied Financial Economics at University College, London.