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Capula launches systematic commodities fund as CTA strategy
The new Capula Alternative Markets Alpha Fund is a quantitative CTA-led by Yao Hua Ooi, with the firm understood to be targeting $2bn to $3bn in capacity.
Capula Investment Management has launched a new systematic commodities strategy, the Capula Alternative Markets Alpha Fund, structured as a quantitative Commodity Trading Advisor, according to a report by Bloomberg.
The fund is led by Yao Hua Ooi, a former AQR Capital Management trader who helped develop Capula’s $6.3bn Helix systematic strategy. Bloomberg also cited unnamed people familiar with the matter saying London-based Capula is in discussions with prospective investors and is targeting $2bn to $3bn of capacity.
Capula, which manages about $35bn, declined to comment, and AQR also did not comment. Ooi spent roughly two decades at AQR, where he was a principal before leaving the firm last year to join Capula.
The report said Capula has been broadening its investment capabilities, including recruiting John Anderson to spearhead development of its multi-strategy platform and hiring two energy traders as part of an expanded commodities push. Capula has also begun allocating capital to external managers, including a $450m investment in multi-strategy hedge fund Cinctive Capital Management.