(Bloomberg) Deer Park Road Management, the $2.2 billion hedge fund firm founded by Michael Craig-Scheckman, is being investigated by U.S. regulators over whether the hedge fund violated securities laws when valuing infrequently traded bonds, according to people familiar with the matter. The Securities and Exchange Commission is questioning why the fund priced certain debt positions below market norms, said one of the people, who asked not to be identified because the probe isn’t public. The inquiry focuses on the pricing of hard-to-value residential mortgage-backed securities, some of which can go months without trading.
Deer Park Road Draws SEC Probe Over Bond Valuations
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