# Deer Park Road Management Company, LP

> Deer Park Road Management Company, LP is an SEC-registered investment advisory firm in Steamboat Springs, CO, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 140370
- Filed as: DEER PARK ROAD MANAGEMENT COMPANY, LP
- Also doing business as: 3 POINTS GP LLC, DEER PARK, DEER PARK COMMERCIAL MORTGAGE OPPORTUNITY FUND I GP LLC, DEER PARK MORTGAGE OPPORTUNITY FUND I GP LLC, DEER PARK ROAD, DEER PARK ROAD 1850 GENERAL PARTNER LLC, DEER PARK ROAD CORPORATION, DEER PARK ROAD GENERAL PARTNER LLC, DEER PARK ROAD MANAGEMENT GP LLC, FLYWHEEL SFR FUND I GP LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Steamboat Springs, CO
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/140370
- AdvisorCensus page: https://advisorcensus.com/firm/deer-park-road-management-company-lp-steamboat-springs-co-140370

## Quick answers

**How is Deer Park Road Management Company, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Deer Park Road Management Company, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Deer Park Road Management Company, LP located?**
Deer Park Road Management Company, LP's principal office is in Steamboat Springs, CO, according to its Form ADV.

**Is Deer Park Road Management Company, LP registered with the SEC or a state?**
Deer Park Road Management Company, LP is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 140370.

**How much does Deer Park Road Management Company, LP manage?**
Deer Park Road Management Company, LP reports $3,515,813,209 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary).

**How have Deer Park Road Management Company, LP's assets and staff changed since 2021?**
In the Form ADV data for Deer Park Road Management Company, LP: Regulatory assets under management: $4,639,897,735 in the October 2021 data and $3,515,813,209 in the October 2026 data, down 24%. Total employees: 24 in October 2021 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Deer Park Road Management Company, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12); investment companies (1).

**Does Deer Park Road Management Company, LP report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(3) (SEC or CFTC finding of causing a business's authorization to be denied, suspended, revoked, or restricted), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/140370

**What changed in Deer Park Road Management Company, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 8 to 7.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $3,515,813,209
- Discretionary: $3,515,813,209
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 1 | $98,382,883 |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $3,417,430,326 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2012 (14 years)
- Employees: 28 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(3): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was a cause of an investment-related business having its authorization to do business denied, suspended, revoked, or restricted?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/140370

### Websites listed on Form ADV (Item 1.I)
- [deerparkrd.com](https://deerparkrd.com)
- LinkedIn @deer-park-road-management-company
- X @deerparkrd

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,639,897,735 | 24 | April 5, 2021 |
| October 2022 | $5,335,634,009 | 30 | March 31, 2022 |
| October 2023 | $6,114,467,436 | 36 | September 15, 2023 |
| October 2024 | $3,856,934,993 | 32 | March 30, 2024 |
| October 2025 | $3,686,280,050 | 30 | April 28, 2025 |
| October 2026 | $3,515,813,209 | 28 | October 1, 2026 |

Regulatory assets under management: $4,639,897,735 in the October 2021 data and $3,515,813,209 in the October 2026 data, down 24%.
Total employees: 24 in October 2021 and 28 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 8 to 7.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Deer Park Road Management Company, LP (CRD 140370): Form ADV filing data as of October 2026.