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US private equity giant Cliffwater faces redemption crisis: Behind the $42 billion "black box," are there 5,000 more "black boxes"?

US private equity giant Cliffwater faces redemption crisis: Behind the $42 billion "black box," are there 5,000 more "black boxes"?

``` The largest private credit interval fund in the United States is now deep in a redemption crisis, reflecting issues of opaque valuations and liquidity mismatches that are triggering widespread doubts about structural risks throughout the entire private credit industry. Cliffwater Corporate Lending Fund recently restricted investor redemptions, becoming the latest
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