Deer Park Road Management Company, LP is an alternative investment firm based in Steamboat Springs, Colorado, specializing in structured credit and opportunistic fixed-income strategies. Founded in 2003 by Michael Craig-Scheckman, the firm is known for its deep-value, buy-and-hold approach, focusing on undervalued, high-cash-flow securities such as non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS). As of March 2024, Deer Park manages approximately $3.2 billion in assets across hedge funds, mutual funds, and private equity vehicles .