0001145549-22-036735.txt : 20220614
0001145549-22-036735.hdr.sgml : 20220614
20220614142528
ACCESSION NUMBER: 0001145549-22-036735
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20220331
FILED AS OF DATE: 20220614
DATE AS OF CHANGE: 20220614
EFFECTIVENESS DATE: 20220614
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Cliffwater Corporate Lending Fund
CENTRAL INDEX KEY: 0001735964
IRS NUMBER: 824960854
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-23333
FILM NUMBER: 221014294
BUSINESS ADDRESS:
STREET 1: C/O UMB FUND SERVICES, INC.
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
BUSINESS PHONE: 414-299-2200
MAIL ADDRESS:
STREET 1: C/O UMB FUND SERVICES, INC.
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
FORMER COMPANY:
FORMER CONFORMED NAME: Cliffwater Direct Lending Fund
DATE OF NAME CHANGE: 20180329
N-CEN
1
primary_doc.xml
X0404
N-CEN
LIVE
0001735964
XXXXXXXX
true
false
false
N-2
Cliffwater Corporate Lending Fund
811-23333
0001735964
549300H513RTF4I5T758
235 West Galena Street
Milwaukee
532123948
US-WI
US
4142992000
UMB Fund Services, Inc.
235 WEST GALENA STREET
MILWAUKEE
53212
4142992000
Transfer Agent, Fund Accountant and Administrator
State Street Bank and Trust Company
1 Iron Street
Boston
02110
6177863000
Custodian
Cliffwater LLC
4640 Admiralty Way, 11th Floor
Marina del Rey
90292-6623
3104485000
Adviser
Foreside Fund Services, LLC
Three Canal Plaza, Suite 100
PORTLAND
04101
8662516920
Distributor
Crescent Capital Group LP
11100 Santa Monica Boulevard
Suite 2000
Los Angeles
90025
3102355900
SUB-ADVISER
Faegre Drinker Biddle & Reath LLP
One Logan Square, STE 2000
Philadelphia
19103
2159882700
Legal Counsel
N
N
N-2
Y
Paul S. Atkins
N/A
N
Paul J. Williams
N/A
N
Stephen L. Nesbitt
N/A
Y
Lance J. Johnson
N/A
Y
Ann Maurer
N/A
Y
Bernadette Murphy
N/A
Y
Dominic Garda
N/A
N
Bernadette Murphy
N/A
223 Wilmington W Chester Pike
Chadds Ford
19317
XXXXXX
N
N
N
N
N
N
N
Foreside Fund Services, LLC
8-51293
000046106
N/A
N
N
Cohen & Company, LTD
00925
N/A
N
N
N
N
N
Cliffwater Corporate Lending Fund
549300H513RTF4I5T758
N
Interval Fund
Y
N
N
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Rule 12d1-4 (17 CFR 270.12d1-4)
Y
N
N
N
Cliffwater LLC
801-63344
000132167
N/A
N
Crescent Capital Group LP
801-71747
000153966
549300L8Z46F3ZAWSB82
N
N
UMB Fund Services, Inc.
084-05792
N/A
N
N
N
Intercontinental Exchange, Inc.
5493000F4ZO33MV32P92
N
IHS Markit LTD.
549300HLPTRASHS0E726
BM
N
Intex Solutions, Inc.
N/A
N
Houlihan Lokey, Inc.
549300S3CNGTQ1QZVY46
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB Fund Services, Inc.
084-05792
SEC File Number
Y
N
N
UMB Fund Services, Inc.
084-05792
SEC File Number
Y
N
N
0.000000000000
DEUTSCHE BANK SECURITIES INC.
8-817822
000002525
9J6MBOOO7BECTDTUZW19
6255000.000000000000
192743590.000000000000
N
5653761396.000000000000
Other
Cliffwater Corporate Lending Fund - Class I
Shares of beneficial ownership
N
N
Other
Shares of beneficial ownership
N
N
N
1.000000000000
1.790000000000
N/A
10.790000000000
true
INTERNAL CONTROL RPT
2
cclfinternalcontrolrpt.txt
INTERNAL CONTROL REPORT
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and Board of Trustees of
Cliffwater Corporate Lending Fund
In planning and performing our audit of the consolidated
financial statements of Cliffwater Corporate Lending Fund
(the Fund) as of and for the period ended March 31, 2022, in
accordance with the standards of the Public Company
Accounting Oversight Board (United States) (PCAOB), we
considered the Funds internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the consolidated financial
statements and to comply with the requirements of Form N-
CEN, but not for the purpose of expressing an opinion on the
effectiveness of the Funds internal control over financial
reporting. Accordingly, we express no such opinion.
The management of the Fund is responsible for establishing
and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls. A funds
internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of consolidated
financial statements for external purposes in accordance with
generally accepted accounting principles (GAAP). A funds
internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the
fund; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of consolidated
financial statements in accordance with GAAP, and that
receipts and expenditures of the fund are being made only in
accordance with authorizations of management and trustees
of the fund; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition,
use or disposition of a funds assets that could have a material
effect on the consolidated financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a
deficiency, or combination of deficiencies, in internal control
over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Funds annual
or interim consolidated financial statements will not be
prevented or detected on a timely basis.
Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under
standards established by the PCAOB. However, we noted no
deficiencies in the Funds internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be a material
weakness as defined above as of March 31, 2022.
This report is intended solely for the information and use of
management and the Board of Trustees of the Fund and the
Securities and Exchange Commission and is not intended to
be and should not be used by anyone other than these
specified parties.
/s/ COHEN & COMPANY, LTD.
COHEN & COMPANY, LTD.
Milwaukee, Wisconsin
June 7, 2022