# DIF US

DIF US is an Asset Manager based in Wilmington, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Wilmington, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Assets under management:** Undisclosed
- **Website:** difus.com

## Regulatory record

- **CRD number:** 316891
- **SEC file number:** 802-122709
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/316891

## About

DIF US is an exempt reporting adviser based in Wilmington, DE. It provides investment advice to clients. The firm is headquartered in Wilmington.

## Sectors

- Infrastructure
- Energy Transition & Renewables
- Private Credit

## People

- Julia S. H. Smith — Managing Partner
- Michael D. Johnson — Senior Advisor

## Questions

### Who runs investment decisions at DIF US?

Julia S. H. Smith serves as Managing Partner leading the US operation. Michael D. Johnson acts as Senior Advisor. Final investment decisions follow the DIF Capital Partners investment committee framework, which includes European senior partners.

### How does DIF US source proprietary deal flow?

DIF US leverages DIF Capital Partners' existing relationships with European institutional LPs and US infrastructure developers. The firm also screens public procurement databases for PPP opportunities. Deal sourcing is cross-border.

### Does DIF US participate in fund commitments or only direct deals?

DIF US primarily makes direct infrastructure investments (equity and debt). But institutional LPs in DIF's funds commit capital to those vehicles; the firm also invites co-investment from select LPs.

### Which sectors does DIF US explicitly avoid?

DIF US does not invest in fossil-fuel extraction, greenfield real estate, or early-stage technology. The firm's energy transition focus excludes coal and oil production.

### Where does the underlying capital for DIF US come from?

Capital comes from institutional investors, including pension funds, insurance companies, and sovereign wealth funds that commit to DIF Capital Partners' fund series. There is no single-family wealth origin.

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Last updated: 2026-08-14T12:30:00.000Z

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