Monday, 30 March 2015
Last updated 7 hours ago
Dec 4 2012 | 8:04am ET
Having raised in excess of $600 million, Colorado hedge fund Deer Park Road has closed its flagship STS Partners Fund to new investors.
Deer Park launched STS Partners —which focuses on deeply discounted, short-duration, high cash-flow mortgage-backed and other asset-backed securities—in May 2008 with $17 million of internal capital.
The firm plans to roll-out a new fund using the same strategy in Q2 2013, although the securities in the new vehicle will be “slightly higher in the capital structure and with slightly lower return expectations.” The new fund’s strategy will “essentially replicate” a strategy Deer Park now uses to manage a $150+ million separately managed account.
Said Michael Craig-Scheckman, portfolio manager and owner of the firm, in a statement: “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.”
Established in 2003, Deer Park focuses exclusively on managing deeply discounted mortgage and asset-backed portfolios.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…