Delta Rock^® Income Fund

Durable underlyings. Disciplined income.

Multi-asset income across closed-end funds, covered-call ETFs, and private credit. The fund compounds steadily and produces dependable cash flow, so the rest of the portfolio can take risk.

The Thesis

Cash flow is what makes the rest of the allocation possible.

Long-horizon portfolios fail when the income side of the household balance sheet is fragile. When yield evaporates in a credit cycle, when distributions are cut, when a leveraged structure unwinds, the temptation to sell the long-horizon positions arrives, and the long-horizon positions are what was supposed to compound undisturbed.

The Income Fund’s assignment is to make the rest of the allocation possible. Predictable yield, durable underlyings, no heroics. We are not trying to outperform an income benchmark by twenty basis points in a quarter. We are trying to remove income fragility as a reason to sell the patient money.

The Components

What the fund owns.

i. Closed-end funds

Closed-end funds (CEFs) trade at premiums and discounts to the value of what they hold. The fund buys durable income strategies when they trade at discounts to net asset value, holds for the yield, and looks to benefit if the discount narrows. Discounts can widen as well as narrow, and distributions can be reduced or suspended.

Disclosures

ii. Covered-call ETFs

Covered-call ETF structures convert equity ownership into a yield-forward instrument by systematically selling upside in exchange for current income. The trade is straightforward, the cash flow is monthly, and the underlyings are large, liquid equities. We use these instruments where the household’s appetite for yield outweighs the appetite for further upside in the same exposure.

iii. Private credit

Selective allocations to private direct-lending strategies where the underwriting is conservative, the documentation is owner-friendly, and the manager has been paid through a real credit cycle. We do not chase headline yields. We accept that the right private credit allocation is the boring one that returns capital every quarter through the next downturn.

Eligibility & Terms

The Delta Rock^® Income Fund is offered to accredited investors as defined in Rule 501(a) of Regulation D (17 CFR § 230.501(a)) under Rule 506(c). The fund is structured as an open-ended Delaware limited partnership. Minimum investment, subscription and redemption mechanics, fee schedule, and other terms are described in the offering documents and are provided to qualified prospective investors during the onboarding process. See our Eligibility Guide for verification details.

Begin

The first conversation covers the cash flow you need, the schedule you need it on, and the acceptable drawdowns.

Engagements begin with a quiet conversation about your situation, your time horizon, and the way you want the work done. If the fit is right, we proceed to verification, documentation, and onboarding.

Talk to Us

Disclaimer

The Delta Rock^® Income Fund is managed by Delta Rock^® Capital Management, LLC. The contents of this page are for informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any security or investment product. Any offering of interests in the fund will be made only by means of definitive offering documents provided separately to accredited investors and qualified purchasers under applicable U.S. securities law. Investments in the fund are illiquid, are not insured, and involve substantial risk including the risk of loss of principal. Yields and distributions are not guaranteed and may change. Past performance, whether of any fund or any prior investment activity, is not indicative of future results. See our full disclosures.