Deer Park Road Management Co., a portfolio management company, has launched a closed-end fund focused on legacy, non-agency residential mortgage–backed securities (RMBS).
Deer Park Mortgage Opportunity Fund I will be available to qualified and accredited individual and institutional investors and requires a $250,000 investment minimum and a three-year term.
The fund will invest in RMBS with the principal objective of realizing long-term capital appreciation and cash flow from its investments, while also seeking to provide access to the current trade opportunities in the structured credit market.
Deer Park has been active in the legacy, non-agency RMBS markets since the early 2000s. As fund manager, Deer Park will seek to leverage its decades of credit investment experience across cycles to identify and invest in bonds trading at less than their intrinsic value with the intention of holding them to term. As a result, the fund’s objective is to build a portfol