Test.cs

using System;
using System.Reflection.Emit;

class Program
{
  delegate object FuncObjectObject(Object o);

  static void Main(string[] args)
  {
    var dm = new DynamicMethod("", typeof(object), new [] { typeof(object) });
    var ilgen = dm.GetILGenerator();
    ilgen.Emit(OpCodes.Ldarg_0);
    ilgen.Emit(OpCodes.Ret);

    var dmd = (Func<object, object>)dm.CreateDelegate(typeof(Func<object, object>));
    Console.WriteLine(dmd(1)); // works

    // now do the same, but with reflection
    var rd = (FuncObjectObject) Delegate.CreateDelegate(typeof(FuncObjectObject), dmd.Target, dmd.Method); // kaboom!

    // wrap the delegate
    var sdm = new FuncObjectObject(dmd);
    Console.WriteLine(sdm(1)); // works

    var srd = (FuncObjectObject)Delegate.CreateDelegate(typeof(FuncObjectObject), sdm.Target, sdm.Method); // works
    Console.WriteLine(srd(1));

    // lets try something else
    var ad = (FuncObjectObject) Activator.CreateInstance(typeof(FuncObjectObject), dmd); // kaboom!
  }
}