Cliffwater LLC (Marina Del Rey)

Name: Cliffwater LLC
Address: 4640 Admiralty Way, Marina Del Rey, CA, 90292 6623
Telephone: 310-448-5000

Cliffwater LLC is a large advisory firm based in Marina Del Rey. It manages $1.7 billion of regulatory assets for 20 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of California, New Jersey, and New York.

Cliffwater provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, and publication of indices; provider of due diligence research reports. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cliffwater: assets under management

The assets under management (AUM) of Cliffwater LLC is $1.7 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 741% since the beginning of its operation, and $209.18 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.7 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $85.12 million each.

Cliffwater has custody of $24 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in pooled investment vehicles the most. They account for 79% of the total AUM. The second-largest asset type is exchange traded securities, which make up 14% of the firm’s portfolio. Investments in investment and business development companies form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cliffwater LLC for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Dennis Richard Sugino serves?

The firm provides services to investment companies, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Dennis Richard Sugino is pension and profit sharing plans with 7 clients and $294.33 million of assets under management. Among the 7 most similar advisory firms, Cliffwater has the highest percentage of pension and profit sharing plans out of all clients.

The amount of regulatory assets under management is $414.03 million for 25 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 6% of the firm’s clients are foreign persons or businesses.

Cliffwater doesn't advise any private funds.

Careers at Cliffwater LLC

The company employs 43 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Dennis Richard Sugino has been acting as President since 1 Feb 2005. Mario Arthur Indelicato joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stephen Lane Nesbitt	Member / chief executive officer	1 Jun 2004	50% - 75%	1941499
Kathleen Kay Barchick	Member / senior managing director	1 Jun 2004	25% - 50%	4824379
Barbara Jean Smith	Managing director	1 Jun 2004	Other	1898750
Dennis R Sugino	Managing director	1 Jun 2004	Other	4824377
Kathleen K Barchick	Managing director	1 Jun 2004	Other	4824379
Dennis Richard Sugino	Managing director	1 Jun 2004	Other	4824377
Daniel Stern	Member / senior managing director	1 Jan 2005	Other	4383565
Dennis Richard Sugino	President	1 Feb 2005	Other	4824377
Barbara Jean Smith	Senior managing director, chief compliance officer	1 Jan 2008	Other	1898750
Kathleen Kay Barchick	Senior managing director	1 Jan 2008	Other	4824379
Daniel Stern	Senior managing director	1 Jan 2008	Other	4383565
Jonathan Adam Rogal	Member / senior managing director / general counsel / chief compliance officer	1 Jul 2011	Other	6395860
Jonathan Adam Rogal	Member / senior managing director / general counsel / chief compliance officer	1 Sep 2014	Other	6395860
Lance Jeremy Johnson	Chief operations officer	1 Sep 2014	Other	6396087
Carol Noriko Komesu	Treasurer	1 Sep 2014	Other	6396093
Mario Arthur Indelicato	Chief compliance officer	1 Sep 2018	Other	4889081

Based in Marina Del Rey

The principal office where Cliffwater LLC performs its advisory services is located at 4640 Admiralty Way, Marina Del Rey, CA 90292 6623, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 310-448-5000 or by fax 310-448-5001. The normal business hours are 8:00 am to 5:00 pm (pt) on Monday - Friday. You can find more information about the New York firm at bdcs.com.