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Cliffwater tapps Henn to lead secondaries

Wednesday, July 17, 2024
Opalesque Industry Update - Cliffwater, a leader in private markets and interval fund management, announced the addition of Timothy Henn as Head of Private Equity Secondaries as it expands its dedicated investment team for the Cascade Private Capital Fund. CPEFX is a newly launched interval fund providing access to a broad set of private capital investments, which recently crossed $1 billion in net asset value.

Prior to joining Cliffwater and the CPEFX team, Tim was a senior member of J.P. Morgan's Private Equity Group where he led PE and venture secondaries opportunities across its platform and drove investment strategy for the firm's 40-Act private asset fund. He was also previously a senior member of the secondaries investment team at Portfolio Advisors across multiple strategies.

As a senior member of Cliffwater's private equity team, Tim will spearhead the buildout of further secondaries capabilities for both LP-led and GP-led investments. The effort will benefit from Cliffwater's 20-year history investing with top-tier sponsors as well as the multiple touchpoints with private equity-backed companies that exist through Cliffwater's $41 billion private debt business.

"As we have done with all of our funds, when we launch a new product, we are proud to bring in exceptional leaders and rapidly scale with top talent. With that in mind, we are excited to have Tim join our funds business and extend our secondaries capabilities," said Blake Nesbitt, Cliffwater's Co-Head of Asset Management. "We have been a significant player in credit secondaries over the past three years, executing over $3 billion in transaction volume through our funds, and we expect to be an even more active participant in private equity secondaries as we scale our new private equity fund," he said.

Tim Henn, Managing Director, added, "I am excited to join Cliffwater as it executes its playbook to bring to the wealth market a well-designed private equity fund, just as the firm has done with its two private credit interval funds. Cliffwater's longstanding relationships with GPs and ability to bring scaled capital to the market will prove to be valuable resources as we build partnerships and execute upon transactions in-house."

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