Dennis Sugino, president of Cliffwater LLC, is retiring and will leave the firm at the end of the month, confirmed Stephen Nesbitt, CEO of the alternative investment consulting firm.
Mr. Sugino's ownership stake is being purchased by existing partners, Mr. Nesbitt said in an e-mailed response to questions. Cliffwater executives do not disclose the size of their stakes, he added.
Mr. Sugino will not be replaced. The firm is retiring the title of president. Leadership duties were distributed last June to committees chaired by Cliffwater's partners, Mr. Nesbitt said.