U.S. Diversified Direct Lending Fund
U.S. Diversified Direct Lending Fund is designed to generate consistent, risk-adjusted income through a diversified portfolio of private credit investments. The fund targets opportunities across asset-backed lending, specialty real estate finance, equipment leasing, and corporate finance, ensuring capital preservation while optimizing returns.
Stable and consistent, US high yield distributions with low volatility. U.S. Diversified Direct Lending Fund offers stable and predictable distributions with built-in downside protection. The fund primarily invests in direct private credit transactions, leveraging its expertise to secure attractive risk-adjusted returns.
$1.8B
Fund Net Assets
(as of Feb 2025)
100%
Borrower fees are paid to investors
9-11%
Target Annual Distribution
Fund Type
1940 Act Registered Fund
Minimum Investment
$50,000
Management Fee
1.5%
Incentive Fee
15%
Hurdle Rate
7%
Lock Up Period
None
Currency
USD
Liquidity
Quarterly Tender Offer
Why U.S. Diversified Direct Lending Fund? Why a U.S. private credit manager?
Higher investor return potential
Earn more by avoiding extra layers of fees and accessing U.S. private credit directly.
Lower Investor Expenses by Avoiding Fee Duplication
Skip Canadian intermediaries and eliminate redundant fees.
Direct Access to the Larger U.S. Private Credit Marketplace
Invest directly in the larger U.S. private credit market without cross-border limitations.
Fund Comparison
Evaluate key features across funds to align with your investment strategy.
Metrics
$/Min. Investment
FundServ A/F/I-Class
RSP/TFSA Eligible
Fund Domiciled
FX Hedged to CAD
AUM$ Date
2024
2023
2022
2021
2020
Since Inception
U.S.Bridge Loan Fund Trust (USBLF)
CAD/USD
$5,000
Canada
$33 MM
Sept 30, 2024
7.48%
7.37%
7.28%
6.35%
-
6.82%*
Dec 2020
U.S. Diversified Direct Lending Fund
USD
$50,000
USA
$1.7 BB
Dec 31, 2024
10.49%
10.46%
10.51%
9.59%
8.36%
10.9%*
Jul 2020
U.S. Mortgage Fund Trust (USMFT)
CAD/USD
$5,000
Canada
-
Mar 31, 2025
-
-
-
-
-
-
U.S. First Mortgage Income Fund (Cayman)
CAD/USD
$80,000
Cayman
$28 MM
Dec 31, 2024
12.41%
12.07%
1.35%
Nov&Dec
-
-
12.23%*
Nov 2022
U.S. First Mortgage Income Fund (USA)
CAD/USD
$1 MM
USA
$476 MM
Dec 31, 2024
10.39%
9.82%
8.83%
8.26%
7.22%
9.47%*
Dec 2016
For accredited investors only
*Past performance is not necessarily indicative of future returns
*As at Dec 31, 2024
U.S. Diversified Direct Lending Fund
Operations Summary
Canadian Qualified Investors (USD)
Institutions, Direct U.S. Investments
U.S. Custodian
U.S. Diversified Direct Lending Fund
Available Downloads
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U.S. Diversified Direct Lending Fund
Business of U.S. Diversified Direct Lending Fund (“USDDLF”)
USDDLF is a U.S. based diversified private credit strategy registered under the Investment Company Act of 1940.
The Business of U.S. Diversified Direct Lending Fund
USDDLF provides the opportunity for investors to participate in asset-backed opportunities in private credit, primarily through investments in Equipment Leasing, Financial Assets, Speciality Real Estate Finance, and Corporate Finance. USDDLF's primary investment objective is to produce current income, manage liquidity and protect against downside scenarios by targeting unlevered middle-market investments with an emphasis on first lien, senior secured, collateralized positions over a 2 – 4 year term.
The U.S. Securities And Exchange Commission,(SEC), prevents the U.S. based Manager of the, “U.S. Diversified Direct Lending Fund”, from publicly displaying the name or identity of USDDLF. Contact us for more information.
President & CCO
Michael Steepe
Request a personal consultation with Michael Steepe,
a trusted leader in private credit.
Or contact Steepe & Co. directly here.
AUM Dec 31, 2024: $1.7 BB
2024: 10.49%
2023: 10.46%
2022: 10.51%
2021: 9.59%
2020: 8.36%
Since Inception Jul 2020: 10.9%