Diego Megia’s Taula Capital Plans $1 Billion Expansion Following Record-Breaking Launch

Diego Megia, a former senior money manager at Millennium Management, is planning to expand his hedge fund, Taula Capital Management, by raising an additional $1 billion. This follows the firm’s highly successful $5 billion launch earlier this year, which was one of the largest hedge fund launches in recent history, according to a Bloomberg report.

Sources familiar with the matter revealed that Taula intends to raise the new capital from its existing investors between December and March. If the fundraising effort is successful, the fund’s total assets will exceed $6 billion, surpassing Bobby Jain’s $5.3 billion Jain Global launch from earlier this year. It will also follow in the footsteps of Michael Gelband, another Millennium alum, whose ExodusPoint Capital Management raised $8 billion in 2018. A spokesperson for Taula Capital declined to provide any comments on the fundraising efforts.

The initial capital raise for Taula was significantly bolstered by a $3 billion investment from Millennium Management, which has increasingly sought to partner with external hedge funds to manage parts of its massive $70.2 billion in assets. Other hedge funds that have received backing from Millennium include Delta Global Management and Kedalion Capital Management, led by Lorenzo Rossi.

Megia founded Taula Capital after building a strong track record in global government bond trading. He joined Millennium Management in 2019 after spending two years at Citadel, where he led the global government bond trading team. At Taula, Megia has focused on macroeconomic strategies, fixed-income relative value, and inflation-risk trading, aiming to carve out a unique niche in these specialized areas of the hedge fund industry. As Taula continues to grow, it seeks to leverage its expertise in these sectors to attract more capital and strengthen its position within the competitive hedge fund landscape.