Installed on 10.11 without any xcode. Hit the DeRez requires dev tools dialogue.
Hoping to avoid installing xcode and more heft/cruft/config, but also reluctant to fake the path as per the above solution as it means my notes on recovering the solution become pages long.
Found an alternate temporary solution; just Install the command line tools http://osxdaily.com/2014/02/12/install-command-line-tools-mac-os-x/
Hopefully Splunk will find it!
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