Thursday, 28 August 2014
Last updated 9 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...