GMF V Delfin Co-Invest, L.P.

The absence of prior EDGAR filings from this manager indicates either a newly registered GP, a manager that previously operated below the $150M AUM threshold, or one that has historically raised without SEC registration; the three-person GP slate (two named, one implied) and 06b exemption confirm this is a pre-existing relationship raise with no public marketing, typical of emerging or emerging-again managers building proof-of-concept before a larger institutional flagship.

A May 2026 filing for a co-invest vehicle typically follows or runs concurrent with flagship Fund V closing or approaching a first close; LPs filing co-invest capacities in mid-2026 positions them to deploy capital into deal flow expected to materialize in late 2026 through 2027, aligning with a normal PE deployment calendar after a flagship raise closes.

Before committing, verify whether this co-invest is tied to a specific Fund V first close date and whether co-investors receive pro-rata follow-on rights or are locked into a defined deal-by-deal menu; also confirm whether the GP has filed the corresponding flagship Fund V vehicle on EDGAR, as its absence would suggest the flagship itself may still be in quiet placement or structured to avoid registration.