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Capital Fund Management
Capital Fund Management (CFM) is a Paris-based quantitative hedge fund founded by physicists in 1991, managing over $8B in systematic strategies.
Capital Fund Management
CAPITAL FUND MANAGEMENT LLP is a London-based investment adviser registered with the SEC since 2015. It operates as a limited liability partnership.
General information
Firm type
Asset Manager
Year founded
1991
AUM
$5B–$10B (Altss estimate)
Location
Region
Europe
Country
France
City
London
Corporate office
Paris, France
Additional offices
London, United Kingdom · New York, United States · Tokyo, Japan
Principals
Jean-Philippe Bouchaud
Co-Founder
Jean-Constant Boucher
Co-Founder
Marc Potters
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Capital Fund Management?
Investment decisions at CFM are led by a team of quantitative researchers and portfolio managers, overseen by CEO Marc Potters and Chairman Jean-Philippe Bouchaud. The firm's systematic models drive trading, with human oversight on parameter setting and risk limits. Bouchaud's academic background in statistical physics directly influences the research pipeline (public record).
How does CFM source proprietary deal flow?
CFM does not source private equity deal flow in the traditional sense — it is a systematic asset manager that trades liquid public securities. Proprietary edge comes from its internal research into statistical arbitrage, machine learning, and risk premia. The firm occasionally allocates to external hedge fund managers through its CFM Capital fund-of-funds platform.
Is CFM structured as a family office or an asset manager?
CFM is registered as an asset management firm in France and regulated by the Autorité des Marchés Financiers (AMF). It is not a family office. The firm manages capital for institutional clients including pension funds, insurers, and sovereign wealth funds. Its ownership structure includes founders and employees.
What investment stages does CFM typically target?
CFM invests in liquid public markets only — equities, currencies, commodities, and fixed-income futures. It does not engage in private equity, venture capital, or real estate. The firm offers programs for trend-following, market-neutral equity, and tail-risk hedging across all major asset classes and geographies.
Which sectors does CFM explicitly avoid?
CFM avoids private markets, including venture capital, private equity, real estate, and infrastructure. Its mandate is limited to liquid, exchange-traded instruments. The firm also does not engage in direct lending or illiquid credit strategies.
Does CFM maintain philanthropic structures?
There is no public record of a dedicated CFM foundation. Individual founders and employees may engage in charitable giving, but the firm does not disclose a corporate philanthropic vehicle.
What is CFM's known posture on co-investments alongside external GPs?
CFM does not participate in co-investments with external private equity GPs. Its investment focus is exclusively on systematic, liquid strategies. The firm may allocate to external hedge fund managers through its CFM Capital fund-of-funds unit but does not do private market co-investments.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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