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Steve is Chief Executive Officer of Cliffwater LLC. Prior to forming Cliffwater in 2004, Steve was a Senior Managing Director and principal of Wilshire Associates where he was a founding member of the Consulting Division that started in 1980. He led the Consulting Division from 1990 to 2004, started the Wilshire Compass, a PC-based investment technology system for fund sponsors, and built the asset management business using a 'manager of manager' investment approach, including private equity and hedge fund of fund products. He began his career at Wells Fargo Investment Advisors as a portfolio manager for international and yield-tilt index funds and had responsibility for maintaining the tactical asset allocation model. Mr. Nesbitt's published articles have appeared in the Financial Analysts Journal, the Journal of Portfolio Management and the Journal of Applied Corporate Finance on issues ranging from performance fees, to currency hedging to private equity performance. He earned a BA in Mathematics and Economics from Eisenhower College, and an MBA from The Wharton School at The University of Pennsylvania. | 