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Deer Park Road Management Company
Deer Park Road Management Company manages $2.8 billion in structured credit. Employee-owned, with offices in Steamboat Springs and four other US cities.
Deer Park Road Management Company
Deer Park Road Management Company's founding year and lead principal are not publicly disclosed. The firm markets itself as one of the most seasoned structured credit investors, with a team averaging over 10 years of investment experience. Wealth origin remains unspecified. The firm invests primarily in structured credit, including its flagship STS Master Fund, a daily liquidity mutual fund, and separately managed accounts. Asset-class focus spans residential and commercial mortgage-backed securities, collateralized loan obligations, and other structured products. In 2024, Deer Park launched an extension to its Mortgage Opportunity Fund (per firm website, May 2024). Confirmed geographic focus is US domestic markets, with offices in four states. The firm does not publicly list specific portfolio companies or co-investors. Deer Park reports $2.8 billion in assets under management as of June 30, 2025 (per firm website). The firm is 100% employee-owned and maintains offices in Steamboat Springs, San Francisco, Menlo Park, New York, and Miami. A recent operational event: November 2025: Deer Park highlighted CRE market distress and stabilization opportunities in a public commentary (per firm website, November 2025). No philanthropic vehicles or adjacent operating companies are disclosed. Deer Park’s structural differentiator is its employee-owned partnership model combined with a 100% structured credit focus — an uncommon posture among asset managers that diversifies across equity or multi-asset strategies. The firm also offers a mutual fund vehicle with daily liquidity, a rare feature for a credit-focused manager.
General information
Firm type
Asset Manager
Year founded
—
AUM
$2.8 billion (per firm website, June 2025)
Location
Region
North America
Country
United States
City
Steamboat Springs
Corporate office
Steamboat Springs, CO, United States
Additional offices
San Francisco · Menlo Park · New York · Miami
Principals
Michael Steinberg
Managing Director, Business Development
Sector focus
Frequently asked questions
Who runs investment decisions at Deer Park Road Management Company?
Deer Park does not publicly disclose a named CIO or sole investment decision-maker. The firm states its trading team has an average of over 10 years of investment experience and functions as a partnership. Michael Steinberg is listed as Managing Director of Business Development (per firm website).
How does Deer Park source proprietary deal flow?
The firm focuses on fundamental credit analysis applied across structured credit markets, particularly residential and commercial mortgage-backed securities. It does not detail a proprietary sourcing model distinct from standard credit market analysis.
Is Deer Park structured as a single family office or an asset manager?
Deer Park presents itself as an employee-owned asset manager, not a family office. It manages $2.8 billion across multiple strategies including a mutual fund, indicating externally raised capital.
Does Deer Park participate in fund commitments or only direct investments?
Deer Park primarily manages commingled funds and separately managed accounts. It does not publicly disclose making principal direct investments outside its fund vehicles.
What investment stages does Deer Park typically target?
Deer Park invests across the structured credit spectrum, including both liquid securities and mortgage opportunities, with no stated stage preference. Its strategies span daily liquidity mutual funds and longer-dated funds.
Which sectors does Deer Park explicitly avoid?
The firm does not publicly list sectors it avoids, but its disclosed focus is entirely on structured credit, suggesting it does not invest in equities, venture, or non-credit alternatives.
Where does the underlying wealth come from?
Deer Park does not disclose the origin of its capital or any associated family or founding wealth. The firm is 100% employee-owned with no named controlling family.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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