Absolute Return Strategies Presentation
General Disclosures
This presentation has been provided to you for the purpose of discussing an investment advisory relationship. The material contained herein is
confidential and is intended for one-on-one or small group meetings with qualified and sophisticated investors. It may not be copied, transmitted,
given, or disclosed to any person other than your authorized representatives. This presentation is not an advertisement and is not intended for
public use or distribution. This material is not meant to be, nor shall it be construed as, an offer or solicitation of an offer for the purchase or sale
of any security.
This presentation was prepared exclusively for information and discussion purposes, and is not meant to be, nor shall it be construed as, an
attempt to define all information that may be material to you. All information including opinions or facts expressed herein are current as of the
date appearing in this presentation and is subject to change without notice. All information has been obtained from sources believed to be
reliable. No representation, warranty, or undertaking, express or implied, is given as to the accuracy or completeness of the information or
opinions contained in this presentation. The information and opinions in this presentation do not constitute investment advice. The list of clients
included in this presentation does not represent an endorsement or approval of Cliffwater or the advisory services provided.
All third party information has been obtained from sources believed to be reliable but its accuracy is not guaranteed. The information herein may
include inaccuracies or typographical errors. Due to various factors, including the inherent possibility of human or mechanical error, the
accuracy, completeness, timeliness and correct sequencing of such information and the results obtained from its use are not guaranteed by
Cliffwater. No representation, warranty, or undertaking, express or implied, is given as to the accuracy or completeness of the information or
opinions contained in this presentation. Cliffwater shall not be responsible for investment decisions, damages, or other losses resulting from the
use of the information herein.
This presentation may include sample or pro forma performance. Such information is presented for illustrative purposes only and is based on
various assumptions, not all of which are described herein. Such assumptions, data, or projections may have a material impact on the returns
shown. Nothing contained in this presentation is, or shall be relied upon as, a representation as to past or future performance, and no
assurance, promise, or representation can be made as to actual returns. Past performance does not guarantee future performance.
There can be no assurance that any expected rate of return, risk, or yield will be achieved. Rate of return, risk, and yield expectations are
subjective determinations by Cliffwater based on a variety of factors, including, among other things, investment strategy, prior performance of
similar strategies, and market conditions. Expected rate of return, risk, and yield may be based upon assumptions regarding future events and
conditions that prove to be inaccurate. Expected rate of return, risk, and yield should not be relied upon as an indication of future performance
and should not form the primary basis for an investment decision. No representation or assurance is made that the expected rate of return, risk,
or yield will be achieved.
Cliffwater is a service mark of Cliffwater LLC.
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