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Capula Hires Former AQR Trader Yao Hua Ooi to Launch Quant CTA Fund
Capula Investment Management has launched a new quantitative commodities trading advisor (CTA) strategy, hiring former AQR Capital Management trader Yao Hua Ooi to lead the effort. The move signals a strategic expansion for the London-based hedge fund, which is primarily known for its relative-value strategies in fixed income and currencies.
Key Hire and Strategy Details
The new vehicle is named the Capula Alternative Markets Alpha Fund, according to a Bloomberg report citing people familiar with the matter. Ooi, who will spearhead the strategy, was previously part of a team at AQR that built a $6.3 billion systematic trading strategy and managed the firm's Helix fund.
His appointment brings significant expertise in quantitative and systematic trading to Capula. The new fund will focus on a CTA approach, which typically uses algorithms to trade futures contracts across various asset classes like commodities, currencies, and equity indexes.
AdFundraising and Expansion
Capula is reportedly in discussions with investors to raise capital for the new fund, which has a target capacity of $2 billion to $3 billion, the sources said. This launch marks a notable diversification for the firm beyond its core business.
Capula was co-founded in 2005 by Yan Huo, who previously led the fixed-income proprietary trading team at JPMorgan Chase & Co. The firm's expansion into systematic strategies represents a significant step to broaden its investment offerings and tap into new sources of alpha.
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