SCHEDULE: Cliffwater Funds Report 5.8% Stake in Stone Point Credit

Cliffwater Corporate Lending Fund and affiliates disclose a 5.8% beneficial ownership stake in Stone Point Credit Corp, with voting rights capped at 4.99%.

Summary

• Cliffwater Corporate Lending Fund, Cliffwater LLC, and Stephen Nesbitt (collectively, "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Stone Point Credit Corp.
• The Reporting Persons collectively beneficially own 3,859,978.00 shares of Stone Point Credit Corp's Common Stock.
• This represents 5.8% of the class, based on 66,064,391.0 shares outstanding as of September 30.
• Cliffwater Corporate Lending Fund, the direct holder of the securities, has waived voting rights in excess of 4.99%.
• Cliffwater LLC acts as the investment adviser to the Fund, and Stephen Nesbitt is the Chief Executive Officer of Cliffwater LLC.

Sentiment

Score: 6

Explanation: The filing indicates a significant institutional investment in Stone Point Credit Corp, which is generally positive. However, the waiver of voting rights above 4.99% suggests a passive investment approach, limiting potential activist influence despite the substantial stake.

Positives

• A significant institutional investor, Cliffwater Corporate Lending Fund, has taken a 5.8% beneficial ownership stake in Stone Point Credit Corp, potentially signaling confidence in the company.

Negatives

• The reporting person has waived voting rights in excess of 4.99%, which limits their ability to influence corporate governance despite holding a 5.8% stake.

Future Outlook

NA

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Cliffwater Corporate Lending Fund could be viewed positively, potentially increasing investor confidence and liquidity.
• Management: The waiver of voting rights above 4.99% by the reporting person suggests a non-activist stance, which may reduce immediate pressure on management regarding strategic direction.

Key Dates

Keywords

Stone Point Credit Corp, Cliffwater Corporate Lending Fund, Cliffwater LLC, Stephen Nesbitt, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Investment Adviser