KKR US Direct Lending Fund-U - EvergreenLink

KKR US Direct Lending Fund-U

KKR US Direct Lending Fund-U Inc. is a closed-end, non-diversified management investment company registered under the 1940 Act, with an investment objective to generate current income. Managed by KKR Credit Advisors (US) LLC, the Fund primarily invests in directly originated loans to U.S. middle market companies with EBITDA of $50 million or more, alongside subordinated debt, equity instruments, and traded credit for liquidity management. It employs leverage and may use derivatives for hedging. Shares are offered continuously with a $25,000 minimum commitment, are highly illiquid, and may be repurchased periodically at NAV at the Board’s discretion.

News and Notices

ManagerKKR & Co. Inc.

Inception2023

Registration'40 Act

Fund TypeTender Offer CEF

CurrencyUSD

Repurchase FrequencyQuarterly

Subscription FrequencyQuarterly

Management Fee1.25%

Fiscal Year EndJune 30

News and Notices

Portfolio Holdings

Portfolio Composition

Growth

Capital Flows

Share Classes

Returns

Fees

Ownership

Operating Metrics

Per Page

Notices

Sep 03, 2024

17:13

Compliance

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KKR US Direct Lending Fund-U reported its annual proxy voting notice for calendar year 2026, with no included managers or series and no confidential treatment request.

Mar 14, 2026

17:59

Ownership, Personnel

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KKR US Direct Lending Fund-U disclosed that Chief Compliance Officer Annette O'Donnell-Butner directly beneficially owned 0 common shares as of July 8, 2026.

Jan 30, 2024

14:52

Fees, Marketing Materials, Redemptions

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KKR US Direct Lending Fund-U Inc. updated its registration materials to reflect a continuously offered, closed-end structure with $25,000 minimum initial commitments, a 1.25% management fee waived to 0.00%, and no shareholder redemption right. Investors may only access liquidity through discretionary periodic repurchase offers at NAV, which may not occur.

Oct 02, 2023

11:26

Compliance

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KKR US Direct Lending Fund-U approved a $1.5 million fidelity bond for July 18, 2026 to July 18, 2027, with multiple coverage endorsements for fraudulent transfer instruction, stop payment order, and unauthorized signature risk. The bond and related amendments set deductibles of $25,000 for the new transfer coverage and $10,000 for the check-related coverages.

Jul 31, 2023

10:35

Personnel

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KKR US Direct Lending Fund-U Inc. reported that Shawn Michael Donovan, General Counsel and Secretary, held 0 Common Shares of Beneficial Interest following the report date.

Jan 09, 2026

15:54

Subscriptions

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KKR US Direct Lending Fund-U Inc. amended its filing to update governance and offering details, including changing several board roles from Trustee to Director and confirming the minimum investment accepted is $25,000. The filing also reports $1.4 billion in total amount sold as of December 1, 2025, with shares offered on a continuous basis.

Mar 21, 2023

13:48

Subscriptions

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KKR US Direct Lending Fund-U Inc. reported an indefinite 1940 Act equity offering that began on October 13, 2023, with $10 sold to date and 1 investor. The offering remains open with no minimum investment and no proceeds allocated.

Jan 13, 2022

12:31

Fees, Redemptions, Subscriptions

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KKR US Direct Lending Fund-U is a newly registered, non-diversified closed-end investment company offering common shares at $1,000 per share with a management fee waived through at least 2025. The Fund is highly illiquid with no redemption rights, and repurchases will be at the Board’s discretion, possibly impacting liquidity and expense ratios.

Sep 13, 2021

10:39

Other

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KKR US Direct Lending Fund-U is registering as an investment company under the Investment Company Act of 1940 on October 13, 2023, with a concurrent registration statement.

Preview

Who manages KKR US Direct Lending Fund-U?KKR & Co. Inc. is responsible for managing KKR US Direct Lending Fund-U.

When was KKR US Direct Lending Fund-U incepted?KKR US Direct Lending Fund-U launched in 2023.

How is KKR US Direct Lending Fund-U registered?KKR US Direct Lending Fund-U is registered as a '40 Act fund.

What type of fund is KKR US Direct Lending Fund-U?KKR US Direct Lending Fund-U is structured as a Tender Offer CEF fund.

How often can investors buy shares of KKR US Direct Lending Fund-U?You can invest in KKR US Direct Lending Fund-U quarterly, subject to eligibility and fund subscription deadlines.

How often can investors sell shares of KKR US Direct Lending Fund-U?You can redeem shares of KKR US Direct Lending Fund-U quarterly, subject to redemption limits and notice requirements.

What currency is KKR US Direct Lending Fund-U offered in?Shares of KKR US Direct Lending Fund-U can be purchased in USD.

When does KKR US Direct Lending Fund-U close its fiscal year?KKR US Direct Lending Fund-U's fiscal year end is June 30.

How big is KKR US Direct Lending Fund-U?KKR US Direct Lending Fund-U's net asset value was $1,758.5 million and its portfolio had a fair value of $1,773.7 million as of June 30, 2026.

What types of investments does KKR US Direct Lending Fund-U make?Among other deal types, KKR US Direct Lending Fund-U primarily makes Debt Investments.

What strategies does KKR US Direct Lending Fund-U invest in?Among other asset classes, KKR US Direct Lending Fund-U primarily invests in Direct Lending.

What geographies does KKR US Direct Lending Fund-U have exposure to?Among other regions, KKR US Direct Lending Fund-U primarily invests in the USA and Globally.

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