Cascade Private Capital Fund
Sponsored by Cliffwater. Interval Fund structure focused on private equity.
Interval FundPrivate Equity
- Net assets
- $5.37B
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
- $20.63
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 $ 20.63”
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
- +8.7% qtr ended 2026-03-31
- Leverage in use
- 10% debt / equity 0.07x
- 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.
The Veritas Capital Vlll, L.P. (2026-03-31)
The Veritas Capital Vlll, L.P. / marked down -28% (2025-12-31 $81,643,286 -> 2026-03-31 $59,051,134) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 1.69% of portfolio value.
Why it matters and what changed
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: nport-diff:2026-03-31:mark:the veritas capital vlll, l.p. /
SHOREVIEW CAPITAL PARTNERS III / marked down -41% (2025-09-30 $13,829,268 -> 2025-12-31 $8,153,007) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-12-31)
SHOREVIEW CAPITAL PARTNERS III / marked down -41% (2025-09-30 $13,829,268 -> 2025-12-31 $8,153,007) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.33% of portfolio value.
Why it matters and what changed
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: nport-diff:2025-12-31:mark:shoreview capital partners iii /
FB HA HOLDINGS LP PROJECT BRE PARTNERS / marked down -50% (2025-06-30 $9,030,803 -> 2025-09-30 $4,540,120) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-09-30)
FB HA HOLDINGS LP PROJECT BRE PARTNERS / marked down -50% (2025-06-30 $9,030,803 -> 2025-09-30 $4,540,120) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.27% of portfolio value.
Why it matters and what changed
Occurrence event; see the filing text for terms vs the prior arrangement.
Source: nport-diff:2025-09-30:mark:fb ha holdings lp project bre partners /
Historical findings (1)
HH DAYCO PARENT, LP / marked down -100% (2025-03-31 $12,747,031 -> 2025-06-30 $0) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-06-30)
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.
| Date | Position change |
|---|---|
| 2026-03-31 | DAWSON EVERGREEN 1 LP / (1.7% of portfolio value in the 2025-12-31 report, $80,846,402) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Echo Buyout, L.P. / marked down -79% (2025-12-31 $49,997,853 -> 2026-03-31 $10,262,484) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 1.03% of portfolio value. |
| 2026-03-31 | The Veritas Capital Vlll, L.P. / marked down -28% (2025-12-31 $81,643,286 -> 2026-03-31 $59,051,134) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 1.69% of portfolio value. |
| 2026-03-31 | ALLINAT INC EQUITY CLASS A-1 COMMON / marked up +38% (2025-12-31 $16,196,712 -> 2026-03-31 $22,430,562) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.33% of portfolio value. |
| 2026-03-31 | BLACKROCK SECONDARIE LIQUIDITY SOLUTIONS / marked up +29% (2025-12-31 $47,849,095 -> 2026-03-31 $61,789,798) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.99% of portfolio value. |
| 2026-03-31 | DFJ GROWTH 2006 CONT LP / marked up +90% (2025-12-31 $44,996,272 -> 2026-03-31 $85,503,573) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.93% of portfolio value. |
| 2026-03-31 | FOUNDERS CIRCLE CAP CO SERIS LP SERIES 8 / marked up +30% (2025-12-31 $14,947,444 -> 2026-03-31 $19,370,825) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.31% of portfolio value. |
| 2026-03-31 | PMH II SPV Sunflower Cayman LP / marked up +57% (2025-12-31 $37,579,448 -> 2026-03-31 $58,963,499) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.78% of portfolio value. |
| 2026-03-31 | New position DAWSON PORFOLIO FINANCE EVERGREEN LP /: 1.5% of portfolio value ($81,968,442) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position Revelar GSMS Fund L.P. /: 1.4% of portfolio value ($75,000,000) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2025-12-31 | Haveli Aston Co- Invest, L.P. / marked down -29% (2025-09-30 $15,537,993 -> 2025-12-31 $10,975,323) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.37% of portfolio value. |
| 2025-12-31 | MONTAGU+ SCSP / marked down -80% (2025-09-30 $13,320,177 -> 2025-12-31 $2,680,124) with par balance unchanged (+-2%) -- a valuation mark, not a trade. Position was 0.31% of portfolio value. |
Where exit demand met the cap.
Stated cap: 5% of shares/quarter. The disclosed history shows no rationed period.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2025-12-22 | 3.3% | 100% | 65% | filled |
| 2025-06-23 | 1.5% | 100% | 29% | filled |
| 2024-11-25 | 0.8% | 100% | 16% | filled |
| 2024-06-17 | 0.2% | 100% | 4% | 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: 1.40% of avg net assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-066320.
Filed fee conditions
Pursuant to the Investment Management Agreement, the Fund has agreed to pay the Investment Manager a monthly investment management fee equal to 1.40% on an annualized basis of the Fund's average net assets. The Investment Manager contractually agreed to waive its entire Investment Management Fee until June 30, 2025 and agreed to partially waive it to charge 1.00% on an annualized basis of average net assets from July 1, 2025 until June 30, 2026 -- the contractual 1.40% rate resumes in full after that waiver window.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.40% | Pending | Pending | Pending | 2.44%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 disclosed support. SEC source 0001213900-26-066320 *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 disclosed support. SEC source 0001213900-26-066320 |
1.84%interest included*Filed label: Ratio of expenses to average net assets (including interest expense) 5 : Before fees waived 2.44 % 2.56 % 1.86 % 2.32 % 2.86 % 4 After fees waived; period 2026-03-31. After waiver: not separately stated; interest: included; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001213900-26-066320 *Filed label: Ratio of expenses to average net assets: Before fees waived and deferred tax expense 1.74 % 1.84 % 1.86 % 2.32 % 2.86 % 4 After fees waived; period 2026-03-31. After waiver: not separately stated; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001213900-26-066320 |
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 (2)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the Investment Management Agreement, the Fund has agreed to pay the Investment Manager a monthly investment management fee equal to 1.40% on an annualized basis of the Fund's average net assets. The Investment Manager contractually agreed to waive its entire Investment Management Fee until June 30, 2025 and agreed to partially waive it to charge 1.00% on an annualized basis of average net assets from July 1, 2025 until June 30, 2026 -- the contractual 1.40% rate resumes in full after that waiver window. | 1.4 pct_annual_of_avg_net_assets | Pending |
| repurchase_program_terms | Discretionary quarterly tender offer program: the Fund's Schedule TO offers have consistently stated up to 5% of Shares outstanding per quarter (most recently confirmed 2024-03-29). Cascade Private Capital Fund | 5.0 pct_of_shares_outstanding_per_quarter | Pending |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-08 | N-CSR | 0001213900-26-066320 |
| 2026-05-22 | NPORT-P | 0001864609-26-000006 |
| 2026-05-08 | N-23C3A | 0001213900-26-053692 |
| 2026-02-27 | NPORT-P | 0001193125-26-080646 |
| 2025-12-05 | N-CSRS | 0001213900-25-118502 |
| 2025-11-25 | NPORT-P | 0001193125-25-295308 |
| 2025-11-20 | N-23C3A | 0001213900-25-112949 |
| 2025-08-28 | NPORT-P | 0001145549-25-055744 |
| 2025-06-09 | N-CSR | 0001213900-25-052563 |
| 2025-05-30 | NPORT-P | 0001145549-25-037232 |
| 2025-05-22 | N-23C3A | 0001213900-25-046653 |
| 2025-02-28 | NPORT-P | 0001145549-25-015534 |
| 2024-12-09 | N-CSRS | 0001213900-24-106834 |
| 2024-11-27 | NPORT-P | 0001145549-24-076774 |
| 2024-10-24 | N-23C3A | 0001213900-24-090231 |