Technology

Cliffwater Enhanced Lending Fund Adds Nicholas Lenicheck to Growing Platform

Published

11 months ago

February 12, 2024

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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SOURCE Cliffwater

Technology

Yaber Achieves 100% YOY Sales Growth during Black Friday and Gears Up for CES 2025

Published

2 minutes ago

December 27, 2024

LAS VEGAS, Dec. 27, 2024 /PRNewswire/ — Yaber reported a remarkable 100% year-over-year sales surge during Black Friday. The T2 outdoor projector, featuring a built-in battery and handle-to-stand design, ranked among Amazon’s Top 3 “Most Wished For” list. Meanwhile, the L2s projectors, available in exclusive Pantone colors, sold out shortly after launch.

Yaber T2 projector is currently available at Christmas sale on Amazon and the official Yaber website. Meanwhile, pre-orders for the L2s projectors in exclusive Pantone colors will reopen in mid-January 2025.

This year, Yaber further expanded its global retail presence, debuting at the iconic Selfridges in the UK and securing placements in MediaMarkt across EMEA, Canada’s London Drugs, Saudi Arabia’s EXTRA, Belgium’s FNAC, Greece’s PUBLIC, Czech Republic’s Datart, Japan’s Bic Camera and Yodobaxi, and Malaysia’s premier IOI City Mall and Plaza Low Yat.

Looking ahead, Yaber is set to unveil its first ultra-short-throw laser projector and a new Keith Haring-inspired entry-level model at CES 2025. The launch event will take place at 4:00 PM PST, January 6, 2025 at Caesars Palace, Las Vegas. Visit Yaber’s booth in South Hall 1-30808 at Las Vegas Convention and World Trade Center (LVCC) from January 7-10 to discover more.

About Yaber

Founded in 2018, Yaber redefined home entertainment by introducing the world’s first entertainment projector, pioneering a new category in the industry. Today, its innovative projectors have delivered immersive experiences to users in over 120 countries, making Yaber a trusted name in global home entertainment.

The letter “Y” in Yaber embodies the youthful vigor and innovative spirit of Generation Y. It’s not just a symbol, but a unique representation of youth identity and attitude towards life, infusing the brand with rich cultural connotations of youthfulness within simplicity.

Committed to excellence, Yaber has been pushing the boundaries of audiovisual innovation, crafting projectors that inspire richer, more vibrant lifestyles. Its achievements are recognised with prestigious accolades, including the Red Dot, IDEA, VGP, and CES Innovation Awards.

SOURCE Yaber Technologies Co., Ltd

Technology

Bybit Web3 Wallet Integrates Tonstakers: The First of Its TON Staking Offerings to Expand DeFi Opportunities

Published

2 minutes ago

December 27, 2024

DUBAI, UAE, Dec. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange,is excited to announce the integration of Tonstakers, the leading liquid staking protocol on the TON blockchain, into its Web3 Wallet. This marks the first of Bybit Web3’s TON staking offerings, reinforcing its commitment to expanding decentralized finance (DeFi) opportunities for its users.

With this integration, Bybit Web3 Wallet users can now seamlessly stake Toncoin ($TON) and receive $tsTON (Tonstakers LST) in return. The value of $tsTON increases relative to $TON every 26 hours, ensuring competitive rewards while contributing to the growth and success of the TON ecosystem. The integration also opens the door for 130 million users in the TON ecosystem to access TON staking directly within the Bybit Web3 Wallet.

Bybit is dedicated to simplifying DeFi adoption by providing intuitive and user-friendly staking experiences. This milestone partnership with Tonstakers enables users to unlock annual returns estimated between 3% and 5% APY, with rewards automatically compounded, further cementing Bybit’s role as a leader in DeFi accessibility.

Why Tonstakers Matters: The First of Its Kind
Tonstakers is the inaugural partner in Bybit Web3’s TON staking initiative, setting a new standard for staking services. With a total value locked (TVL) exceeding $260 million and a significant market share in the liquid-staked TON sector, Tonstakers offers Bybit Web3 Wallet users unparalleled access to TON staking benefits:

Effortless Staking: Securely stake $TON with ease, thanks to the user-friendly interface within the Bybit Web3 Wallet.Earn $tsTON Rewards: Receive tokenized staked Toncoin ($tsTON), which can be leveraged within DeFi applications across the TON ecosystem.Explore DeFi Liquidity: Engage with Tonstakers Earn to provide liquidity using $tsTON, unlocking diverse earning opportunities.

“Bybit Web3 is proud to deepen our integration with the TON blockchain, a crucial step in our mission to foster a thriving and interconnected Web3 ecosystem,” said Emily Bao, Head of Bybit Web3. “This integration empowers our users with seamless and trusted access to TON liquid staking pools and unlocks valuable earning opportunities. As a strong believer in DeFi adoption, Bybit Web3 is committed to bridging the gap between Web2 and Web3, creating simple, easy, and accessible solutions that bring the benefits of decentralized finance to a wider audience. We believe this integration will significantly contribute to the growth and success of the TON ecosystem.”

Start Staking Today To begin staking your $TON and earning with $tsTON, visit https://www.bybit.com/en/web3/staking and discover the power of Bybit Web3 Wallet’s integration with Tonstakers. Bybit Web3 Wallet currently supports a wide range of staking services beyond TON tokens, including ETH, USDT, USDC, bbSOL, SUI, and more.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 60 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit Web3, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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SOURCE Bybit

Technology

Youth Square “YS School Cultural Festival 2024” Winter Edition

Published

2 minutes ago

December 27, 2024

Exhibition of Three Major Popular Anime, with Over Forty Youth Performers and Local Creative Units
Helping Young People Unleash Their Potential

HONG KONG, Dec. 27, 2024 /PRNewswire/ — The theme of this year’s youthfest@HK is “Nurture Positive Thinking”, “Promote Innovation” and “Inspire Creativity”. As one of the highlights of the festival, “YS School Cultural Festival 2024” adopts the theme “Plus Ultra: Beyond PB Limits”, encouraging young people to push their own limits in every opportunity and challenge, striving to achieve new personal best. “YS School Cultural Festival 2024” comprises the Summer and Winter edition, offering a multitude of diverse and enriching experiences to participants. Following the summer’s excitement from the Paris Olympics, “YS School Cultural Festival 2024” brought everyone thrilling basketball competitions and various sports experiences. The Winter edition kicked off on December 9 at Youth Square, featuring a series of exciting programmes for young people to share and exchange their passion and insights on anime, cosplay, and idol groups.

One of the highlight events of “YS School Cultural Festival 2024” Winter Edition is “Doujin Fan Fest 2024”, which was held on December 14–15, 2024, at the Y Theatre, 2/F, Youth Square. This two-day anime extravaganza brought together over 20 popular idol and cosplay groups and performers to showcase their talents and energy. Additionally, more than 20 local groups showcased their incredible creativity in the Market, offering a wide array of originally-created items and idols and anime related products. “Doujin Fan Fest 2024” also offered numerous workshops, including Hanfu makeup and styling experiences, cosplay wig styling and hair accessory design, providing participants with hands-on opportunities to explore their interest and potential.

“Doujin Fan Fest 2024” Empowers Youth to Showcase Talents and Unlock Potential

Participants of “Doujin Fan Fest 2024” shared that they gained a lot from the event, with many describing it as a highly rewarding experience. Popular idol Una expressed that the vibrant atmosphere of the festival made a lasting impression on her. She praised that the event provided her a platform to showcase her individuality and share her passion for stage performances and singing with fellow enthusiasts. Meanwhile, Bibi, the instructor of the Cosplay Wig Styling Workshop, revealed that this was her first time hosting a workshop. She was inspired by the strong eagerness to learn displayed by the participants, which led her to consider developing advanced courses or creating tutorial videos. Her goal was to provide and share more learning resources about Cosplay wig styling.

Promoting Chinese Culture through the “Hanfu Makeup and Styling Experience Workshop”

Another key highlight of ” Doujin Fan Fest 2024″ was the “Hanfu Makeup and Styling Experience Workshop”, where participants learned Hanfu makeup techniques, classic bun hairstyles, and even had the chance to try on Hanfu outfits to create their own personalized looks. The workshop was highly popular among youngsters.

The workshop instructor, Bing-gan, emphasized the importance of promoting Hanfu culture, explaining that it helps young people deepen their understanding of Chinese history and the cultural significance behind Hanfu. For example, the central seam of the garment symbolizes the Confucian concept of the “Doctrine of the Mean,” carrying profound meaning. Bing-gan stated, “I hope students can use Hanfu as a gateway to explore Chinese culture, including its history, philosophy, aesthetics and experience the richness of Chinese heritage.” One of the participants, Joyce, shared her excitement, “this workshop taught me advanced makeup techniques and Hanfu hairstyle designs that are rarely offered elsewhere. I also learned that Hanfu comes in so many styles and has such diverse and beautiful designs!”

Another highlight of the “YS School Cultural Festival 2024” Winter Edition is “Ani-com Fantasy 2024”. It features the “Anime Exhibition” at the Y Exhibition Platform, 1/F, Youth Square, as well as in the public space on the 5th and 6th floors. The exhibition showcases instagrammable “check-in” hotspots on three popular anime, “Haikyuu!!”, “Kuroko’s Basketball” and “Mashle: Magic and Muscles”. An interactive basketball game area allows participants to become basketball players and showcase their shooting skills. Additionally, on December 13, 2024, a free anime screening was held, allowing anime fans to revisit classic films “Haikyuu!! The Movie: Talent and Feelings” and “Haikyuu!! The Movie: Battle of Concepts”, indulging themselves in the world of anime.

Please download high resolution photos here.

Youth Square

Youth Square is a government venue and a youth development initiative launched by the Home and Youth Affairs Bureau. Facilities include the 643-seat Y Theatre, Y Studio, Y Platform, multipurpose area, office, retail shop and the Y Loft which has 148 guest rooms. Youth Square aims to be the hub of territory-wide youth development activities for youth to develop their potential. Youth Square has been conducting events under various themes, including music, dance, arts and culture.

6G model is Youth Square’s guiding principle. 6G refers to Groom, Growth, Glow, Green, Global Vision and Give Back.

Official website: http://www.youthsquare.hk

Y Loft

Y Loft is conveniently located, 3-minute walk from Chai Wan MTR Station. The 148-room Y Loft is located in Youth Square’s Main Block and Hostel Block. Room selection includes Twin, Twin Room with Balcony, Triple, House of Six, Duplex and Accessible Rooms. Accessible Rooms, with widened corridor and more space, are designed to deliver the same comfort and peace of mind to visitors with disabilities.

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SOURCE Youth Square, Y Loft, New World Facilities Management Company Limited