Narula’s Metacapital Said to Win $130 Million in Fund
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Metacapital Management LP, the top-ranked hedge-fund manager in 2012 whose flagship vehicle this year suffered its worst quarter ever, has attracted about $130 million for a fund designed to profit from rising interest rates, a person with knowledge of the matter said.
The Rising Rate Fund returned 2.7 percent in August, bringing gains since it opened in May to 13.5 percent, according to a notice this week to investors from Deepak Narula’s Metacapital. That compares with a 2 percent gain last month for the New York-based firm’s Mortgage Opportunities Fund, which has about $1.3 billion of assets, said the person, who asked not to be identified because the information isn’t public.