Taula Capital Management (Jersey)

Taula Capital Management (Jersey)

Taula Capital Management launched in 2011 when Diego Megia departed Moore Capital after more than two decades, including a long run as co-head of macro trading. He had been one of Louis Bacon's most trusted capital allocators, regularly managing a multi-billion-dollar book within Moore's flagship funds. The firm set up in Jersey, a jurisdiction that houses a cluster of macro talent drawn to its regulatory framework and proximity to London. Megia runs the fund alongside a tight group of former Moore colleagues, keeping the investment team deliberately small and the capital base disciplined. The strategy is pure discretionary global macro focused predominantly on G10 rates and foreign exchange. Megia builds high-conviction views around central bank policy, inflation dynamics, and relative-value trades across the US Treasury, Bund, Gilt, and JGB curves. The fund does not wander into illiquid private markets or equity long/short—its edge lives entirely in the observable data and policy signals of developed-world sovereign markets. The portfolio will hold both directional and relative-value positions, using options and futures to structure asymmetric payoff profiles. Confirmed positions are rarely disclosed given the macro mandate, but the fund has been publicly referenced as an active participant in European government bond markets and G7 currency crosses. Taula keeps institutional leverage and risk management discipline that reflects Megia's Moore Capital lineage. The firm employs a moderate, carefully scaled risk budget rather than maxing out VaR limits on carry trades. The operations sit on a Jersey platform that serves global institutional allocators, with fund vehicles typically structured for US taxable and offshore investors. Megia has not publicly disclosed total firm AUM or headcount figures. The fund is understood to have maintained a relatively tight capacity, consistent with a macro manager who wants agility in G10 markets without the slippage that large asset bases impose on shorter-duration macro trades. No philanthropic foundation or adjacent operating business is publicly tied to the firm. The structural differentiator is Megia's extraction of a concentrated G10 rates and FX mandate from within a multi-strategy macro giant. Most macro spinouts diversify across asset classes or regions to attract assets. Taula did the opposite: it narrowed its aperture to the markets Megia had proven his edge in while at Moore, implicitly arguing to allocators that the tight focus would produce less correlation dilution and better crisis-alpha characteristics than a broader mandate. The succession story is tied to this purity—the firm has not signaled any shift toward a multi-manager model or asset-gathering push, making it one of the last dedicated G10 rates boutiques still operating as founder-locked capital.