Capula Investment Management, one of Europe’s largest hedge funds managing approximately $32-35 billion in assets, is raising capital for a new trading strategy as it expands beyond its fixed-income arbitrage roots. The London-based firm allocated $450 million to Cinctive Capital Management in May through a separately managed account structure. It has also hired energy traders Wouter Verdam and Jakob Stawiarz to cover European and US energy futures. Institutional backing includes Dai-ichi Life Holdings, one of Japan’s largest insurers, increasing its stake to approximately 15% in 2025, and New Jersey’s Division of Investment committing up to $500 million to Capula’s Tail Risk Fund.
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