Cliffwater has appointed Ryan Madani as a Managing Director on the Cascade Real Assets Fund team. He joins from Partners Group.
His previous work included more than $2 billion of equity investments across transactions representing over $6 billion of total capitalisation.
Cliffwater is best known for interval fund structures that bring institutional private market strategies to a wider investor base. Real assets have become a natural extension of that model, given long asset lives and income characteristics that suit periodic-liquidity vehicles.
Senior hires in real assets tend to follow capital rather than precede it. The appointment suggests continued deployment intent in a segment where transaction volume has been uneven.
For allocators, the relevant assessment is not the hire itself but whether team continuity, deal sourcing and underwriting discipline hold as a strategy scales.
Real assets allocation is discussed throughout the UKFOS Oxford 2026 programme.
UKFOS Editorial · 26 AUGUST 2026