Tuesday, 13 October 2015
Last updated 9 hours ago
Dec 6 2012 | 11:33am ET
Deer Park Corp. is readying a new credit hedge fund as it closes its current offering to new investors.
The firm plans to close its STS Partners Fund, which now manages over $600 million. The distressed mortgage and asset-backed fund has garnered more than $250 million in new assets since May, when it established its three year track record—an impressive one, with annualized returns of almost 30%, Hedge Funds Review reports.
With its first fund closed to preserve performance, Deer Park plans to launch another credit fund in the second quarter. The new fund, based on a $150 million separately-managed account the firm already manages, will employ the same strategy as STS Partners, but will focus on securities higher in the capital structure—with consequently lower returns expected.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…