Strategies Designed to Solve Problems

We are a forward-thinking global asset manager, dedicated to exploring alpha opportunities in derivatives and complementary strategies that persist across market cycles to seek returns or aim to solve strategic investment challenges. Our goal is to anticipate and harness the complexities of global markets, working with investors to uncover the potential of derivatives to address critical issues in their portfolio.

Our Strategies

Built on a different approach to investment, we provide clients with a broad range of strategies and solutions.

Culture

We believe navigating the complexity of derivatives markets requires a unique culture built on knowledge sharing and collaboration.

Process

Our rigorous investment process cultivates a broad range of complementary strategies, with space to innovate and evolve.

Risk Management

Our risk platform seeks to enhance alpha generation and support informed decisions on risk, performance, and capital allocation through deep research and proprietary models.

Technology

We have built proprietary tools to price derivatives and volatility efficiently, filter opportunities and execute strategies.

Investing
CGM
Solutions
Platform

Capstone Global Master

Our multi-strategy approach focuses on trading derivatives and complementary strategies across a broad range of asset classes and regions, seeking to generate returns in a wide variety of market environments with limited correlation to equities or other hedge fund strategies. Since its launch in 2007, CGM has balanced a mix of risk-on and risk-off strategies during a variety of market conditions.

17

year track record

90

investment professionals

*As of December 31, 2024

Multi Asset Class

Equity, Fixed Income, Currency, Commodity, Volatility

Multi Region

Americas, Europe, Asia

Key Strategies Include:

Equity Volatility

Volatility and relative value trading across single stocks, indices, and commodities.

Equity, Events & Arbitrage

Relative value trading opportunities across global markets.

Fixed Income, Currency & Commodities

Engages in dislocations and mispricing across yield curves, geographies, and volatility surfaces.

Multi Asset

Various strategies across several asset classes and regions.

Capstone Solutions

Our Solutions platform aims to deeply understand the challenges institutional investors face in their portfolios. We start by listening. We then leverage insights and opportunities from across the firm to deliver customized mandates and commingled offerings that improve portfolio outcomes and increase investor probability of success.

13

year track record

17

investment professionals

*As of December 31, 2024

$8.2BN

AUM

*As of January 1, 2025

Single Strategies

Informed by the most frequent challenges we hear from our clients and leveraging our existing expertise, we’ve designed a broad mix of solutions that cover a range of derivative strategies.

Dispersion

A relative value strategy that aims to monetize the equity index correlation risk premium to create a statistically defensive return profile.

Risk-Recycling

Aims to provide a non-correlated return stream by taking advantage of various supply/demand imbalances caused by the retail structured products market and generally declining bank risk appetite.

Trend-Following

Aims to identify and capitalize on trends across over 650 global markets.

Capstone Convex Portfolio Protection Strategy

A defensive tail hedging strategy designed to deliver large returns in volatile and severe market sell offs.

Equity Replacement

Aims to outperform US equity using a combination of passive (Beta) and active (Alpha) strategies. The Alpha strategies are focused around the volatility carry space.

Custom Defensive Strategies

We partner with our clients to tailor solutions to meet their goals. Our dedicated team of Solutions experts work closely with investors to understand their portfolio objectives along with current strategies and allocations. Together, we then define a bespoke set of objectives for the custom mandate. These objectives can be defensive in nature, return outcome based or some combination. Our dedicated team delivers these objectives using their deep knowledge and expertise across a broad range of derivative strategies, asset classes and volatility markets.

Tail Hedging

Custom tail hedging strategies targeting large returns in severe drawdowns tailored to a specific investor’s portfolio and objectives.

Long Volatility

Aims to generate gains in sudden market sell offs and a small positive or flat return in normal markets.

Currency Solutions

Seeks to generate defensive or uncorrelated absolute returns by monetizing inefficiencies in the currency markets.

Inverse RV

Intended to provide downside protection for relative value-type hedge fund exposures and alternative investments.

Volatility Carry

Active volatility carry program that sells (delta hedged) options or other instruments to capture the implied vs. realized volatility risk premium across asset classes.

Diversified Defensive Overlay

Customizable defensive trend strategy that is designed to provide offset in market drawdowns by taking long positions in risk-off assets and short positions in risk-on assets.

Dynamic Multi Asset

Takes advantage of Capstone’s strengths in managing tail risk hedging and trend-following strategies to create a diversified multi-asset investment strategy.

Built on a Culture of Collaboration

Our business is built on a collaborative model of working. We seek out the brightest thinkers and give them the space to innovate and explore. This approach underpins our investment strategy, creating an engine for continued innovation and growth.

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