Cliffwater Enhanced Lending Fund
Sponsored by Cliffwater. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $7.80B
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-22 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $11.01
source
Shareholder report (Form N-CSR) · filed 2026-06-08 · period 2026-03-31
financial-highlights end-of-period NAV (fallback)
“Net asset value, end of period $ 11.01”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Filed fund value · as of 2026-03-31 - Net flows, last qtr
- +2.2% qtr ended 2026-03-31
- Distribution coverage (NII)
- 63% period ended 2026-03-31
- Leverage in use
- 12% debt / equity 0.09x
- Total return, 12m
- Pending SEC-filed periodic NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-21.
Historical findings (2)
Management fee waiver (in effect since the Fund's inception) expired July 31, 2022 per its own terms; fees are no longer waived for periods after this date. (2022-07-31)
Management fee waiver extended to July 31, 2022, effective November 19, 2021 (per Note 4, Investment Management and Other Agreements). (2021-11-19)
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Monthly performance eligibility
Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Pending
Where exit demand met the cap.
The disclosed history shows no rationed period.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2025-09-15 | 2.2% | 100% | 45% | filled |
| 2025-06-16 | 4.5% | 100% | 89% | filled |
| 2024-11-25 | 1.8% | 100% | 35% | filled |
| 2024-08-28 | 2.2% | 100% | 45% | filled |
| 2024-05-29 | 1.7% | 100% | 34% | filled |
| 2024-03-05 | 3.1% | 100% | 61% | filled |
| 2023-11-28 | 3.0% | 100% | 59% | filled |
| 2023-08-29 | 1.4% | 100% | 28% | filled |
| 2023-05-31 | 1.9% | 100% | 37% | filled |
| 2023-03-06 | 1.9% | 100% | 37% | filled |
| 2022-11-28 | 1.5% | 100% | 30% | filled |
| 2022-08-29 | 0.8% | 100% | 17% | filled |
| 2022-05-31 | 1.7% | 100% | 33% | filled |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Pending
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class I | Pending | Pending | Pending | Pending | Pending |
Management fee: 0.95% of avg net assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-066323.
Filed fee conditions
Pursuant to the Investment Management Agreement, the Fund pays the Investment Manager a monthly Investment Management Fee equal to 0.95% on an annualized basis of the Fund's average net assets.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 0.95% | Pending | Pending | Pending | 1.89%interest included*Filed label: Ratio of expenses to average net assets (including interest expense) 5 : Before fees waived; period 2026-03-31. before/excluding fee relief (explicit filing row); waiver state: before / excluding. SEC source 0001213900-26-066323 *Filed label: Ratio of expenses to average net assets: Before fees waived and deferred tax expense; period 2026-03-31. before/excluding fee relief (explicit filing row); waiver state: before / excluding. SEC source 0001213900-26-066323 |
1.89%interest included*Filed label: Ratio of expenses to average net assets (including interest expense) 5 : Before fees waived 1.89 % 2.11 % 2.20 % 1.93 % 1.68 % 4 After fees waived; period 2026-03-31. After waiver: yes; interest: included; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001213900-26-066323 *Filed label: Ratio of expenses to average net assets: Before fees waived and deferred tax expense 1.26 % 1.27 % 1.30 % 1.28 % 1.54 % 4 After fees waived; period 2026-03-31. After waiver: yes; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001213900-26-066323 |
Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the Investment Management Agreement, the Fund pays the Investment Manager a monthly Investment Management Fee equal to 0.95% on an annualized basis of the Fund's average net assets. | 0.95 pct_annual_of_avg_net_assets | Pending |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-08 | N-CSR | 0001213900-26-066323 |
| 2026-05-22 | NPORT-P | 0001842754-26-000004 |
| 2026-05-08 | N-23C3A | 0001213900-26-053688 |
| 2026-02-27 | NPORT-P | 0001193125-26-080327 |
| 2026-02-13 | N-23C3A | 0001213900-26-015940 |
| 2025-12-05 | N-CSRS | 0001213900-25-118509 |
| 2025-11-25 | NPORT-P | 0001193125-25-295461 |
| 2025-11-13 | N-23C3A | 0001213900-25-109689 |
| 2025-08-28 | NPORT-P | 0001145549-25-055662 |
| 2025-08-14 | N-23C3A | 0001213900-25-076169 |
| 2025-06-09 | N-CSR | 0001213900-25-052549 |
| 2025-05-30 | NPORT-P | 0001145549-25-037155 |
| 2025-05-15 | N-23C3A | 0001213900-25-043767 |
| 2025-02-28 | NPORT-P | 0001145549-25-015524 |
| 2025-02-03 | N-23C3A | 0001213900-25-009170 |