# EDGAR Filing Document

**Accession Number:** 0001735964
**File Stem:** 0001213900-25-080997
**Filing Date:** 2025-8
**Character Count:** 11087
**Document Hash:** e346a512ccbf7bfcf77012998620534d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-080997.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001213900-25-080997

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cliffwater Corporate Lending Fund
- **CENTRAL INDEX KEY:** 0001735964

**ORGANIZATION NAME:**
- **EIN:** 824960854
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23333
- **FILM NUMBER:** 251262057

**BUSINESS ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2200

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 WEST GALENA STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cliffwater Direct Lending Fund
- **DATE OF NAME CHANGE:** 20180329

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001735964

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Registered Management Investment Company

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Cliffwater Corporate Lending Fund

**Address:** 235 West Galena Street, MILWAUKEE, WI 53212

**Telephone number:** 414-299-2270

**Name of agent for service:** Ann Maurer

**Agent Address:** 235 West Galena Street, MILWAUKEE, WI 53212

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 811-23333

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 549300H513RTF4I5T758

**Report Type (check only one):**

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [x] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                           | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                               | VOTE CATEGORY              |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Golub Capital BDC 4, Inc.                |  | 02/03/2025     | Director Election                                              | DIRECTOR ELECTIONS         |       10193455 |                0 | FOR         |                                 10193455 | FOR                         |  |
| Golub Capital BDC 4, Inc.                |  | 02/03/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |       10193455 |                0 | FOR         |                                 10193455 | FOR                         |  |
| Golub Capital Private Credit Fund        |  | 01/29/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        7977663 |                0 | FOR         |                                  7977663 | FOR                         |  |
| Golub Capital Private Credit Fund        |  | 01/29/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |        7977663 |                0 | FOR         |                                  7977663 | FOR                         |  |
| Golub Capital Direct Lending Corporation |  | 02/03/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        3336386 |                0 | FOR         |                                  3336386 | FOR                         |  |
| Golub Capital Direct Lending Corporation |  | 02/03/2025     | Director Election                                              | AUDIT-RELATED              |        3336386 |                0 | FOR         |                                  3336386 | FOR                         |  |
| Blue Owl Technology Finance Corp.        |  | 03/20/2025     | Approve Second Articles of Amendment and Restatement           | CORPORATE GOVERNANCE       |        2119509 |                0 | FOR         |                                  2119509 | FOR                         |  |
| Blue Owl Technology Finance Corp. II     |  | 03/20/2025     | Adopt Agreement and Plan of Merger                             | INVESTMENT COMPANY MATTERS |        5015139 |                0 | FOR         |                                  5015139 | FOR                         |  |
| Morgan Stanley Direct Lending Fund       |  | 03/06/2025     | Increase # of authorized shares of capital stock               | CAPITAL STRUCTURE          |        1191161 |                0 | FOR         |                                  1191161 | FOR                         |  |
| TCW Direct Lending VIII LLC              |  | 05/13/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        1000000 |                0 | FOR         |                                  1000000 | FOR                         |  |
| TCW Direct Lending VIII LLC              |  | 05/13/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |        1000000 |                0 | FOR         |                                  1000000 | FOR                         |  |
| Vista Credit Strategic Lending Corp.     |  | 05/28/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        2417070 |                0 | FOR         |                                  2417070 | FOR                         |  |
| Vista Credit Strategic Lending Corp.     |  | 05/28/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |        2417070 |                0 | FOR         |                                  2417070 | FOR                         |  |
| Blue Owl Credit Income Corp.             |  | 06/26/2025     | Director Election                                              | DIRECTOR ELECTIONS         |       10787499 |                0 | FOR         |                                 10787499 | FOR                         |  |
| Blue Owl Credit Income Corp.             |  | 06/26/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |       10787499 |                0 | FOR         |                                 10787499 | FOR                         |  |
| Franklin BSP Capital Corp                |  | 06/06/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        2198487 |                0 | FOR         |                                  2198487 | FOR                         |  |
| Franklin BSP Capital Corp                |  | 06/06/2025     | Issue 25% of the oustanding commont stock at a price below NAV | CAPITAL STRUCTURE          |        2198487 |                0 | AGAINST     |                                  2198487 | AGAINST                     |  |
| Varagon Capital Corporation              |  | 06/12/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        1925963 |                0 | FOR         |                                  1925963 | FOR                         |  |
| Morgan Stanley Direct Lending Fund       | 61774A103 | 06/02/2025     | Director Election                                              | DIRECTOR ELECTIONS         |         242195 |                0 | FOR         |                                   242195 | FOR                         |  |
| Morgan Stanley Direct Lending Fund       | 61774A103 | 06/02/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |         242195 |                0 | FOR         |                                   242195 | FOR                         |  |
| Carlyle Credit Solutions, Inc.           |  | 06/09/2025     | Director Election                                              | DIRECTOR ELECTIONS         |        2483855 |                0 | FOR         |                                  2483855 | FOR                         |  |
| Carlyle Credit Solutions, Inc.           |  | 06/09/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |        2483855 |                0 | FOR         |                                  2483855 | FOR                         |  |
| Carlyle Secured Lending, Inc.            |  | 06/09/2025     | Director Election                                              | DIRECTOR ELECTIONS         |         548617 |                0 | FOR         |                                   548617 | FOR                         |  |
| Carlyle Secured Lending, Inc.            |  | 06/09/2025     | Ratify Auditor                                                 | AUDIT-RELATED              |         548617 |                0 | FOR         |                                   548617 | FOR                         |  |
| Carlyle Secured Lending, Inc.            |  | 06/09/2025     | Issue common stock at a price below NAV                        | CAPITAL STRUCTURE          |         548617 |                0 | FOR         |                                   548617 | FOR                         |  |
| Forbright, Inc.                          |  | 09/26/2024     | Director Election                                              | DIRECTOR ELECTIONS         |         280309 |                0 | FOR         |                                   280309 | FOR                         |  |
| Forbright, Inc.                          |  | 09/26/2024     | Approve adjournment of the annual meeting                      | CORPORATE GOVERNANCE       |         280309 |                0 | FOR         |                                   280309 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Cliffwater Corporate Lending Fund

**By (Signature):** Lance J. Johnson

**By (Printed Signature):** Lance J. Johnson

**By (Title):** Principal Financial Officer

**Date:** 08/27/2025