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Opalesque Industry Update - Cascade Private Capital Fund, an interval fund providing access to private capital, has announced the closing of a senior secured revolving credit facility with JPMorgan Chase Bank, N.A. Under the Facility, which closed on September 26, 2024, JPMorgan has agreed to extend credit to the Fund in an aggregate amount of $250 million. The Fund intends to utilize the Facility to support continued balance sheet growth and liquidity. As of August 31, 2024, CPEFX has approximately $1.2 billion in net assets, up from approximately $125 million as of February 27, 2024, when Cliffwater became the investment adviser of the Fund. "We are thrilled not only to provide enhanced liquidity to Cascade Private Capital Fund, but also to do so with a partner like JPMorgan. This Facility provides long-term, flexible debt financing from a partner that can best facilitate future growth of the Fund's balance sheet," added Daniel Lepore, Managing Director and Head of Liability Management at Cliffwater. |
