DL Partners Core Fund LP

No prior EDGAR filings from this manager indicate this is either a first-time fund formation or a previously unregistered operation now entering the regulatory ecosystem; the $1M target and 06b exemption (pre-existing relationships only) suggest a small, relationship-driven vehicle rather than a institutional build-out, consistent with a debut or a highly selective continuation.

A May 2026 filing for a hedge fund targeting $1M carries timing risk: late-cycle hedge fund formations at this scale typically emerge either from a departing team capitalizing on existing LPs or a niche strategy with limited capital needs, and the mid-year filing suggests urgency to close before year-end allocation cycles.

Verify whether key-man language protects around Davide Leone specifically (given his name appears in two GP entity titles) and confirm whether the four other named individuals have fiduciary roles or are listed for compliance purposes only—this distinction materially affects governance and continuity risk.