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About Us
Capula is a global investment manager focused on innovative strategies that aim to exhibit low or negative correlation to traditional equity and fixed income markets.
Our roots are in fixed income relative value, but our horizons have expanded to encompass macro trading, crisis alpha strategies and more. Our multi-strategy evolution retains the focus on low correlation and prudent risk management, key pillars of our approach to investment management.
We manage assets for some of the world’s most astute institutional investors including corporate and public pension plans, sovereign wealth funds, foundations and endowments.
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Years of History
As at 31 January 2024
Who We Are
We were co-founded in 2005 by Yan Huo and Masao Asai, both of whom previously enjoyed successful careers at global investment banks. They were later joined by former colleagues creating a team with deep market experience.
Leadership
Our executive board, led by Yan Huo and comprising senior team members, oversees the firm’s governance and delivery of our strategic objectives as set by the firm’s board of partners. Together the leadership provide vision and bring together a wealth of knowledge and expertise to help us navigate the full market cycle.
Yan Huo
Co-Founder, Managing Partner
Yan Huo is managing partner, co-founder, chief investment officer of Capula.
Prior to co-founding Capula in 2005, Yan was at UFJ as head of fixed income. He started his professional career at J.P. Morgan where he worked in the derivatives research and proprietary position business. Yan is a trustee of Princeton University, Fudan University and the Huo Family Foundation and previously served as a member of the US Treasury Borrowing Advisory Committee.
Education:
BS Physics, Fudan University, Shanghai MA Electrical Engineering, Princeton University PhD Electrical Engineering, Princeton University
Masao Asai
Co-Founder, Partner
Masao Asai is a partner, co-founder and head of yen macro trading at Capula and also serves as co-head of investor relations.
Prior to founding Capula, Mr Asai was an executive vice president at UFJ International as the head of proprietary trading division having earlier been a proprietary trader and the head of yen fixed income at UFJI, Tokyo. Earlier in his career, Mr Asai was at Tokai Bank as the head of FX spot, swap and JGB proprietary trading desks. He has broad experience in JPY, USD and EUR fixed income and FX markets. Outside of Capula, Mr Asai is a guest professor at Osaka University’s school of international public policy.
Education:
BA, Keio UniversityThe Capula Difference
Many firms say they are different. Look closely, and we believe you will see Capula stands apart from its peers.
Our distinct culture is based on curiosity, humility, teamwork and agile decision-making.