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Capula portfolio manager quits London, starts hedge fund in New York

Back to the Big Apple

Back to the Big Apple

Gei Lin, a macro portfolio manager at Capula Investment Management, has left the firm’s London office and returned to New York to launch his own hedge fund.

Lin moved to London in July 2012 to take the role on Capula’s systematic hedge fund from BlackRock in New York, where he was portfolio manager within the firm’s global rates business. Less than two years later, in January, he left and is in the process of launching his own, as yet unnamed, hedge fund back in the Big Apple.

He has a background in quantitative analytics, and studied algorithmic game theory, advanced matrix computations and computational tools and methods for finance at Cornell University. The chances are, therefore, that the fund has a quantitative bent.

Capula was launched by former JPMorgan prop trader Yan Huo in 2005 and has been on something of an expansion over the past year. It increased headcount from 66 in 2012 to 95 in 2013, and has brought in some senior bankers recently.

In April, Mathias Berenger, managing director and head of European vanilla options trading at Credit Suisse joined Capula, while Cyril Levy-Marchal, head of equities trading at JPMorgan, also signed up as a portfolio manager in its Asian office.

Capula also has a reputation for paying well, with average partner pay at £2.2m, down from £4.1m the previous year. Huo himself took home £56.6m in 2013 and £12.5m last year.

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