Sign up for free newsletter

 

Closed sign

Deer Park closes STS Partners Fund

Deer Park Road’s flagship fund, STS Partners Fund, has closed to new investors.

The fund, which focuses on deeply discounted, short-duration, high cash-flow mortgage-backed (MBS) and other asset-backed (ABS) securities, was started in May 2008 with USD17m of internal capital and has since grown to more than USD600m.

Deer Park plans to roll-out a new fund early in the second quarter of 2013 that uses the same strategy and process employed in STS Partners Fund, but with securities that, for the most part, will be slightly higher in the capital structure and with slightly lower return expectations.

The new fund’s strategy will essentially replicate a strategy currently used by Deer Park to manage a USD150m-plus separately managed account.

Michael Craig-Scheckman, portfolio manager and owner of the firm, says: “In order to preserve the ample opportunity we continue to see in our market, near and longer term, we decided it was best to limit the size of the portfolio.”


Subscribe to free daily newsletter
latestjobs
Algorithmic Trading Developer - C++, Linux, Python

Fri, 24 Apr 2015 00:00:00 GMT

Senior Project Manager – Data Governance

Fri, 24 Apr 2015 00:00:00 GMT

Java Programmer – Credit Derivatives, Front Office

Fri, 24 Apr 2015 00:00:00 GMT

events
21 hours 27 min from now - Grand Caymen
1 day 21 hours from now - New York
1 day 21 hours from now - Wiesbaden
2 days 21 hours from now - California
3 days 21 hours from now - London
specialreports