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Cliffwater Enhanced Lending Fund Adds Nicholas Lenicheck to Growing Platform

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MARINA DEL REY, Calif., Feb. 12, 2024 /PRNewswire/ — Cliffwater Enhanced Lending Fund (“CELFX” or “the Fund”), an interval fund providing access to alternative private debt strategies, announced Nicholas Lenicheck has joined its investment team as a Managing Director and will be based in New York. Nick’s extensive experience as an allocator to and direct investor in alternative credit investment strategies will support CELFX and its continued momentum.

Prior to joining the CELFX senior team, Nick was a Senior Director at PSP Investments where he managed an opportunistic private credit sub-portfolio and sourced and executed co-investment and direct transactions as part of their Alpha Alternatives team. Nick also previously held investment analyst positions with Farallon Capital Management (Singapore) and Tudor Investment Corporation (Singapore, Boston).

Cliffwater, the investment adviser of CELFX, has been investing in enhanced lending since 2006. The firm oversees over $7B in enhanced lending assets and over $37B in private debt assets. Cliffwater’s private debt platform has grown to 39 investment professionals dedicated to research, underwriting, and portfolio management.

ABOUT CLIFFWATER ENHANCED LENDING FUND (CELFX)

Launched July 1, 2021, Cliffwater Enhanced Lending Fund is a Delaware statutory trust registered under the Investment Company Act of 1940 and operates as an interval fund.

CELFX invests across the private debt spectrum, including in diversifying sub-asset classes with lower correlation to traditional risk assets, to tap into unique risk premiums to pursue high current income and, secondarily, capital appreciation. The fund provides immediate exposure to niche strategies in one efficient solution that would be costly and challenging for investors to replicate.

As of January 31, 2024, CELFX has $2.7 billion in net asset value and approximately $2.9 billion in total gross assets. Since inception, CELFX has delivered a net annualized total return of 12.74%. The broad-based portfolio was invested across 13 private debt strategies with an average look-through exposure to any single issuer of less than 0.1%.

Cliffwater serves as the investment adviser of the Fund.

https://www.cliffwaterfunds.com/CELFX

ABOUT CLIFFWATER

Cliffwater LLC (“Cliffwater”, or “the Firm”) is an independent alternative investment adviser and fund manager that provides proactive research, advisory, and investment services. Cliffwater was founded in 2004; has offices in Los Angeles, Chicago, and New York; and currently has approximately $22 billion in assets under management (AUM) and $78 billion in assets under advisement (AUA). 

Cliffwater’s research has been published in “The Journal of Alternative Investments,” and in 2018, its founder and Chief Executive Officer, Stephen Nesbitt, was named one of the “30 Most Influential People in Private Debt” by Private Debt Investor. Mr. Nesbitt also wrote one of the first books on private debt: “Private Debt: Opportunities in Corporate Direct Lending” (Wiley Finance, 2019); with its second edition being released in 2023: “Private Debt: Yield, Safety and the Emergence of Alternative Lending” (Wiley Finance, 2023).

Cliffwater’s private debt research has also led to the creation of four indices: the Cliffwater Direct Lending Index (“CDLI”), which is an asset-weighted index that seeks to measure the unlevered, gross of fees performance for U.S. middle market corporate loans; the Cliffwater Direct Lending Index: Senior-Only (“CDLI-S”), which is an index focusing on the senior loans within the CDLI; the Cliffwater Direct Lending Index: Venture-Only (“CDLI-V”), which is an index comprised of only venture-backed loans within the CDLI; and the Cliffwater BDC Index (“CWBDC”), which is a capitalization-weighted index built to measure the performance of exchanged-traded Business Development Companies (“BDCs”). 

Cliffwater LLC is an investment adviser registered with the Securities and Exchange Commission (“SEC”).

https://www.cliffwater.com

Performance data represents past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost; and the current performance may be lower or higher than the performance data quoted. Fund performance is net of fees.

Investors should consider the investment objectives, risks, charges, and expenses of the Cliffwater Enhanced Lending Fund (the “Fund”) carefully before investing. Before investing, carefully read the prospectus, which can be found on this website or by calling (888) 442-4420. 

The Fund’s investment program is speculative and entails substantial risks. There can be no assurance that the Fund’s investment objectives will be achieved or that its investment program will be successful Investors should consider the Fund as a supplement to an overall investment program and should invest only if they are willing to undertake the risks involved Investors could lose some or all of their investment. Shares are an illiquid investment. We do not intend to list the Fund’s shares (“Shares”) on any securities exchange, and we do not expect a secondary market in the Shares to develop. You should generally not expect to be able to sell your Shares (other than through the limited repurchase process), regardless of how we perform. Although we are required to implement a Share repurchase program, only a limited number of Shares will be eligible for repurchase by us. You should consider that you may not have access to the money you invest for an indefinite period of time. An investment in the Shares is not suitable for you if you have foreseeable need to access the money you invest. Because you will be unable to sell your Shares or have them repurchased immediately, you will find it difficult to reduce your exposure on a timely basis during a market downturn.

The Fund is a non-diversified management investment company and may be more susceptible to any single economic or regulatory occurrence than a diversified investment company. Cybersecurity risks have significantly increased in recent years and the Fund could suffer such losses in the future. One of the fundamental risks associated with the Fund’s investments is the risk that an issuer will be unable to make principal and interest payments on its outstanding debt obligations when due. Other risk factors include interest rate risk (a rise in interest rates causes a decline in the value of debt securities) and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). Distributed by Foreside Fund Services, LLC, www.acaglobal.com.

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HONOR Redefines Mobile AI Solutions with PC powered by Snapdragon, on-device AI Agent and AI Deepfake Detection at IFA 2024

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2 hours ago

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September 7, 2024

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HONOR, Qualcomm, and Microsoft Redefine Innovations in Mobile AI

BERLIN, Sept. 7, 2024 /CNW/ — Today at IFA 2024, HONOR unveiled three groundbreaking mobile AI Solutions: AI PC powered by Snapdragon® X Elite platforms, AI Agent and AI Deepfake Detection. The launch was accompanied by a thought-provoking panel discussion featuring HONOR CEO George Zhao; Alex Katouzian, Group GM of MCX at Qualcomm Technologies, Inc.; and Mark Linton, VP of Device Partner Sales at Microsoft. Together, they explored the convergence of AI and Snapdragon technology, discussing how these innovations are shaping the future of mobile AI.

“When it comes to mobile computing, AI is not just a buzzword, it’s a revolution,” commented George Zhao, CEO of HONOR Device Co., Ltd. “At HONOR, we’re committed to working with our partners to deliver powerful AI capabilities and seamless connectivity, while protecting our users’ privacy. Through open collaboration with industry leaders, we’re creating devices that empower individuals and redefine what’s possible.”

“At Qualcomm Technologies, we believe the NPU is the key to unlocking the true potential of AI in PCs,” added Alex Katouzian, Group GM of MCX, Qualcomm Technologies, Inc. “The Snapdragon X Elite with its industry-leading NPU performance empowers AI PCs like the HONOR MagicBook Art 14 to deliver next-generation AI experiences. Not only will users see a significant boost in capabilities, but the NPU’s efficiency also translates to longer battery life, allowing users to stay productive for extended periods.”

HONOR MagicBook Art 14 Snapdragon: Redefining PC in the Mobile AI Era
The PC landscape is undergoing a radical transformation, driven by advancements in AI and the rise of Snapdragon platforms. Fueled by HONOR’s platform-level AI capabilities and developed in collaboration with top industry leaders, HONOR MagicBook Art 14 Snapdragon heralds a new era of computing.

Featuring a sleek and compact design, the HONOR MagicBook Art 14 Snapdragon is a marvel of lightweight engineering. It incorporates cutting-edge platform-level AI features alongside robust hardware and software solutions, ensuring unmatched productivity and user experience. It translates the lightweight and slim characteristics of smartphones to laptops, delivering the lightest and slimmest AI PC on the market, weighing approximately 1kg with a slimness of 1cm. Delivering an immersive visual journey, the HONOR MagicBook Art 14 Snapdragon features a captivating 14.6-inch HONOR FullView Touch Display boasting a crystal-clear 3.1K resolution. It also includes an outstanding 97% screen-to-body ratio, the largest among 14-inch laptops. The HONOR MagicBook Art 14 Snapdragon is powered by the Qualcomm Snapdragon X Elite, elevating the computing experience to new heights in terms of power, efficiency, and security.

The HONOR MagicBook Art 14 Snapdragon also enables a smooth transition of Windows applications on X86 to the Windows on Snapdragon architecture. Based on years of research on the ecosystem, HONOR created a Hotspot Library that uses platform-level AI to identify frequently used scenarios and trigger translation optimization efficiently. HONOR has improved 16% of the average boot-up time1 with translation optimization across a diverse array of Windows applications. Currently, HONOR has optimized a total of the Top 14 applications across six major categories, including browsers, online meetings, media, office, social software and tools.

The HONOR MagicBook Art 14 Snapdragon will be soon available in German, France and Italy.  For preorder, please visit HONOR online store now at www.honor.com.

Seamless AI Experiences Elevated by the Power of MagicRing
In the mobile AI era, seamless cross-OS connectivity will truly empower users to unlock AI everywhere. Unlike the manual point-to-point connections in traditional solutions, the HONOR MagicRing allows multiple devices of the same account to automatically connect with low power consumption.

The MagicRing not only connects devices but also connects services across the devices. The solution also enables users to use the same set of keyboard and mouse for multiple devices, receive calls and notifications on a device other than their smartphones, and control the smartphone’s camera on the PC. With the secure and smooth flow of services and information across devices, MagicRing makes multi-device AI experience easier. For example, as one of the typical scenarios of Windows on Snapdragon experience, Cocreator allows users to produce fantastic artwork with simple draws. Powered by MagicRing, users can seamlessly access Cocreator on their HONOR MagicPad 2, drawing AI masterpieces with their Magic-Pencil. In the Meanwhile, they can also use AI Eraser from HONOR Magic V3 on the HONOR MagicBook Art 14 Snapdragon to experience unparalleled levels of convenient mobile AI.

HONOR AI Agent: The First On-device AI Agent for the Open Ecosystem
The HONOR AI Agent is a revolutionary always-on personal assistant designed to enhance and simplify users’ daily lives. By intuitively understanding users’ requests and intentions through language analysis and UI awareness technology, the AI Agent that learns from their habits and device environment can intelligently make decisions across various apps and services. This capability allows it to automate complex tasks. HONOR demonstrated how to find and cancel unwanted app subscriptions across different apps with just a few simple voice commands on their smartphones.

As we look to the future, the HONOR AI Agent is poised to become the cornerstone of mobile AI, and it is anticipated to arrive with the HONOR Magic7 Series later this year in China. This innovation not only signifies a leap in technology but also heralds a new era where AI seamlessly integrates into our daily routines, enhancing everyday productivity and efficiency.

The World’s First On-device AI Deepfake Detection Technology
As the technology behind deepfakes becomes more sophisticated, the potential for misuse, including identity theft and the spread of disinformation, grows significantly. HONOR’s on-device AI Deepfake Detection represents a groundbreaking solution designed to protect users from the increasingly prevalent threat of deepfakes. This innovative detection system employs advanced algorithms to meticulously analyze various elements, including pixel-level synthetic imperfections, border compositing artifacts, inter-frame continuity, consistency in face-to-ear hairstyle, and the positioning of synthetic traces. By examining these characteristics, the technology can accurately identify manipulated content, distinguishing between genuine media and deceptive alterations.

About HONOR 
HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.

For more information, please visit HONOR online at www.honor.com or email newsroom@honor.com 

https://community.honor.com/  
https://www.facebook.com/honorglobal/  
https://twitter.com/Honorglobal  
https://www.instagram.com/honorglobal/  
https://www.youtube.com/c/HonorOfficial  

1Data comes from HONOR labs.

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SDAIA to Unveil Key AI Strategies and International Collaborations at Global AI Summit Press Conference

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3 hours ago

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September 7, 2024

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RIYADH, Saudi Arabia, Sept. 7, 2024 /CNW/ — The Saudi Authority for Data and Artificial Intelligence (SDAIA) will hold a press conference on Sunday, September 8, at the King Abdulaziz International Conference Center. The press conference will highlight key aspects of the upcoming third edition of the Global AI Summit, taking place under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of SDAIA’s Board of Directors. The summit is scheduled for September 10-12, 2024, and will feature over 300 speakers, attracting global thought leaders, policymakers, and AI experts from more than 100 countries.

The press conference will feature remarks from prominent figures, including H.E. Dr. Abdullah bin Sharaf Alghamdi, President of SDAIA, H.E. Dr. Esam bin Abdullah Alwagait, Director of the National Information Center (NIC), and H.E. Dr. Yaser bin Mohammed Al-Onaizan, CEO of the National Center for AI (NCAI) in SDAIA.

Key topics to be covered during the press conference will include the significance of the Crown Prince’s patronage, the summit’s focus areas, and its anticipated impact on the good of humanity, particularly amid the rapid development of AI technologies. It will also showcase how AI is driving economic growth, creating new sectors and industries, and addressing global challenges. Furthermore, the press conference will spotlight Saudi Arabia’s leadership in promoting responsible AI use and ethics on the international stage, while addressing both the opportunities and challenges AI presents.

For more information about the GAIN Summit, please visit:  https://globalaisummit.org/en/default.aspx   

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More Than a Device: Timekettle Unveils W4 Pro AI Interpreter Earbuds at IFA 2024

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4 hours ago

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September 7, 2024

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BERLIN, Sept. 7, 2024 /PRNewswire/ — Timekettle, the expert in AI translator earbuds, has unveiled its latest innovation, the W4 Pro AI Interpreter Earbuds, at the International Funkausstellung (IFA) 2024. More than a device, the W4 Pro functions like a personal assistant, catering to the cross-language communication needs when hosting foreign guests, conducting multi-language online meetings, or traveling abroad for business or leisure.

“Interpreter earbuds like the W4 Pro are essential even when phones can be used for translation, because they cater to a more refined and immersive user experience,” said Leal Tian, the CEO of Timekettle. “In cross-language communication, there’s a growing need for meaningful conversations and deeper connections beyond basic translations, especially for business pros, immigrants, and travelers. The W4 Pro meets these needs by allowing natural, hands-free conversations with eye contact, making interactions smoother.”

The W4 Pro caters to diverse communication needs in three distinct modes. The first mode focuses on one-on-one simultaneous interpreting. It features advanced technology that allows for instant translation in a two-way conversational setting. Its dual interpretation system redefines successful communication by allowing two voices to merge into a singular flow. The earbuds also incorporate a triple microphone array that enhances voice recognition and translation accuracy.

For professionals navigating multilingual meetings, the W4 Pro’s Listen & Play mode is an ideal choice. It allows seamless switching between listening and speaking with simultaneous interpretation. Timekettle’s AI Semantic Segmentation ensures rapid sentence parsing, enhancing communication and productivity, while AI Memo provides intelligent post-meeting summaries.

The third mode caters to online interactions such as video calls or streaming foreign media content, ensuring users understand every word with real-time translated subtitles and audio summaries post-meeting or event. In addition, unexpected phone calls in a foreign language are no longer a concern, as the W4 Pro offers one-way assisted translation and real-time transcription subtitles, enabling quick information grasp and efficient conversations.

Understanding the importance of user comfort and efficiency, Timekettle has equipped the W4 Pro with an open-ear design, ensuring prolonged comfort without compromising privacy or hygiene. Additionally, its high-end sound quality enriches every interaction, making it comparable to professional audio systems.

Significant Milestone to “Babel Fish”

Timekettle was inspired by the “Babel Fish,” a magical creature from the sci-fi movie “The Hitchhiker’s Guide to the Galaxy.” “Babel Fish” allows people to understand alien languages. Since its inception, Timekettle has been striving to create a real-life “Babel Fish,” enabling everyone to communicate freely across different languages.

Over the past eight years, Timekettle has revolutionized cross-language cultural communication through a series of innovative products. Initially, Timekettle introduced a handheld translator, which, despite requiring users to press a button and wait, significantly aided in understanding across languages. The evolution continued with the M3 Translator Earbuds, allowing users to listen and respond, though still necessitating manual switching of audio channels.

The breakthrough came with the Timekettle WT2 Edge Simultaneous Translator Earbuds, featuring HybridComm™ technology that enabled two-way, real-time communication. Users could speak and listen simultaneously, making conversations more natural and efficient.

Early this year, Timekettle further advanced its technology to process multiple people’s audio in five different languages simultaneously, pushing the boundaries of cross-language communication.

Each of Timekettle’s technological advancements aims to make cross-language communication as seamless as same-language interactions. And now, the Timekettle W4 Pro AI Interpreter Earbuds enable smooth, effective communication in global business negotiations across languages. Looking forward, Timekettle remains committed to achieving universal communication freedom, continuously enhancing its products to facilitate natural and efficient cross-language interactions.

About Timekettle

Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.

For more information, please visit https://www.timekettle.co/. 

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