Stephen Nesbitt, CEO and CIO of Cliffwater, shares his remarkable journey in the investment consulting world. He discusses the evolution of his firm, focusing on alternative investments, and his successful pivot to managing private credit assets for RIAs. The conversation dives into the complexities of launching interval funds, innovative fund structures, and the immense growth of a flagship fund targeting the RIA market. Nesbitt emphasizes the importance of relationships and adaptability in navigating today’s investment landscape.