Hedge Funds

Blend of science and finance sparks Paris quant firm CFM


Capital Fund Management, the $5.7 billion French quantitative investment group, has overcome setbacks that might have sunk many other firms to become a leader in global systematic trading, with a culture that is rooted as much in scientific academic research as in investment or trading acumen

Marc Potters
Jacques Saulière Philippe Jordan
Jean-Philippe Bouchaud’s job titles say a great deal about the firm that he jointly runs.

As the ‘chairman and chief scientist’ of Capital Fund Management, the Paris-based quantitative hedge fund group that he has helped to lead since the death of CFM’s founder and his long-time business partner Jean-Pierre Aguilar in a gliding accident in 2009, Bouchaud embodies a firm whose DNA is rooted as much in science as in finance.

And the firm’s strong academic culture