Qiang Dai, who oversees systematic investing at London-based Capula Investment Management LLP, plans to leave the $13 billion hedge fund to pursue personal interests, according to a person brief on his decision.
Dai, 45, is leaving after serving as a partner at Capula for more than six years, said the person, who declined to be identified because the company is private. About 1 percent of Capula’s assets are invested in systematic trading, which typically use computers to find profitable patterns within financial data.
Capula, founded in 2005 by Yan Huo, raised more than $4 billion from investors last year. Its flagship Global Relative Value Fund Ltd. primarily trades government bonds and currencies and gained 6.2 percent last year, according to data compiled by Bloomberg. Relative value investing typically involves spotting situations in which two securities trade outside their normal range and wagering that the discrepancy will fade over time.
Dai joined Capula in 2005 as head of market research and risk before becoming the hedge fund’s chief risk offer in 2009, according to his LinkedIn page. In December 2010, Capula appointed him head of systematic trading.
Dai didn’t return a phone call seeking comment. Jonathan Gasthalter, a Capula spokesman, declined to comment.
He received a Ph.D. in finance and another in physics from Stanford University near Palo Alto, California, according to the LinkedIn page. He taught finance at New York University’s Stern School of Business and at the University of North Carolina at Chapel Hill before joining Capula, the LinkedIn page says.