Key Takeaways
- • Cliffwater appoints Sean Brenan as head of real estate and portfolio manager of Cascade Real Assets Fund, a newly launched evergreen private real assets fund combining interval fund structures with real estate, infrastructure, and alternative real assets investment capabilities.
- • Brenan brings 16+ years of real estate investment and portfolio management experience, most recently serving as global head of Goldman Sachs' real estate secondaries, primaries, and co-investment platform—one of the largest real estate secondary fund programs globally.
- • Cascade Real Assets Fund was filed in February 2026 as part of Cliffwater's strategic expansion into real assets sectors, leveraging the firm's established interval fund expertise to address opportunities across real estate and infrastructure markets.
- • Brenan's appointment reflects Cliffwater's positioning to capitalize on real assets market dislocations and broaden its institutional investor base through a dedicated real estate and infrastructure investment platform.
Summary
Cliffwater, a private markets interval fund manager, has appointed Sean Brenan as head of real estate and portfolio manager of Cascade Real Assets Fund. In this newly created role, Brenan will oversee Cliffwater's investment opportunities across real estate, infrastructure, and other real assets sectors, directing the strategy and execution of the firm's real assets investment platform.
Brenan joins from Goldman Sachs, where he served as global head of the firm's real estate secondaries, primaries, and co-investment platform. In that capacity, he oversaw investment activities for one of the largest real estate secondary fund programs and managed partnerships with leading global real estate sponsors. His 16+ years of experience in real estate investment, portfolio management, and leadership position him to drive Cliffwater's expansion into real assets.
Cascade Real Assets Fund was filed in February 2026 as an evergreen private real assets fund structure. The fund combines Cliffwater's established expertise in interval funds—which offer periodic liquidity windows to institutional investors—with dedicated capabilities in real estate, infrastructure, and complementary real assets sectors. This product launch represents a strategic broadening of Cliffwater's platform beyond its traditional interval fund offerings, enabling the firm to serve institutional capital seeking diversified exposure to alternative real assets.
The appointment signals Cliffwater's intent to build institutional-grade real assets management capabilities during a period of significant market dislocation in real estate and infrastructure sectors. Brenan's background managing complex secondary and primary real estate investments at Goldman Sachs directly aligns with the operational and strategic demands of launching and scaling a multi-asset real estate platform targeting institutional investors.
Brenan joins from Goldman Sachs, where he served as global head of the firm's real estate secondaries, primaries, and co-investment platform. In that capacity, he oversaw investment activities for one of the largest real estate secondary fund programs and managed partnerships with leading global real estate sponsors. His 16+ years of experience in real estate investment, portfolio management, and leadership position him to drive Cliffwater's expansion into real assets.
Cascade Real Assets Fund was filed in February 2026 as an evergreen private real assets fund structure. The fund combines Cliffwater's established expertise in interval funds—which offer periodic liquidity windows to institutional investors—with dedicated capabilities in real estate, infrastructure, and complementary real assets sectors. This product launch represents a strategic broadening of Cliffwater's platform beyond its traditional interval fund offerings, enabling the firm to serve institutional capital seeking diversified exposure to alternative real assets.
The appointment signals Cliffwater's intent to build institutional-grade real assets management capabilities during a period of significant market dislocation in real estate and infrastructure sectors. Brenan's background managing complex secondary and primary real estate investments at Goldman Sachs directly aligns with the operational and strategic demands of launching and scaling a multi-asset real estate platform targeting institutional investors.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.