What Element Capital Management LLC does

Element Capital Management LLC is a privately held, founder-controlled alternative investment manager founded by Jeffrey Talpins in 2005 (with the operating LLC formed in 2007) and headquartered at 520 Madison Avenue in New York. The firm operates a single flagship product, the Element Capital Fund, which deploys a proprietary "Modern Macro" investment strategy that integrates macro fundamental analysis, systematic analysis, and relative value analysis to form directional views on global financial markets. The firm pioneered the Modern Macro style, which has since been adopted across the macro hedge fund industry.

The firm serves accredited investors, qualified clients, qualified eligible persons, and qualified purchasers through direct institutional sales, with all distribution routed through a password-protected Intralinks-hosted investor portal. Element Capital Management LLC is registered as an investment adviser with the SEC, and its UK affiliate, Element Capital Partners LLP, is authorized and regulated by the FCA. Additional offices are located in London (Mayfair) and Abu Dhabi (opening in 2026). The firm employs approximately 60 professionals, with roughly one-third in technology-oriented roles, including investment specialists, economists, technologists, and business operations experts operating under a flat organizational structure.

Element Capital generates revenue through investment management fees and performance fees on the Element Capital Fund. The fund grew from $250 million at inception in April 2005 to a peak of $18 billion in assets under management in 2019. Between 2019 and 2025, the firm conducted five separate proactive capital returns of external capital totaling approximately $15 billion, and now predominantly manages assets for its principals. Leadership is concentrated with Jeffrey Talpins (Founder, CEO, and CIO) and Jason Stipanov (Deputy CIO and Chief Risk Officer), who joined from Morgan Stanley where he developed the patented Volatility Return Modeling Technique applicable to interest rate derivatives and G7 currency products.

Name

Element Capital Management LLC

Legal name

Element Capital Management LLC

Website

https://elementcapital.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Element Capital Management LLC is a privately held, founder-led alternative investment manager running the Element Capital Fund, which employs a proprietary Modern Macro strategy integrating fundamental, systematic, and relative value analysis to serve accredited institutional investors globally.

Ownership category

akta.pro rank

Product category

Alternative Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Manager / Multi-PM Platforms (FSAHAKAD)

akta.pro secondary industry

Equity Long/Short — Industrials/Materials Focus (FSAHAAAN)

Keywords

• Alternative asset management
• Global macro investing
• Hedge fund management
• Derivatives trading
• Modern macro strategy

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Investment Management Fees: Element Capital generates revenue through investment management fees from its hedge fund strategies. The firm manages assets for its principals and previously managed external capital for institutional and qualified investors.
2. Performance Fees: Hedge funds typically charge performance fees (carry) in addition to management fees. While not explicitly stated in sources, the firm's historical growth to $18B AUM suggests significant performance fee revenue.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Element Capital Management LLC operates as an alternative investment manager running a single flagship hedge fund, the Element Capital Fund, that applies a proprietary "Modern Macro" investment approach. The strategy integrates macro fundamental, systematic, and relative value analysis to form directional views on global financial markets, with the firm managing assets for its principals and previously managing external capital for institutional and qualified investors.

Product overview

Element Capital Management LLC operates as an alternative investment manager offering a single core product: the Element Capital Fund, which employs the firm's proprietary Modern Macro investment strategy. The Modern Macro approach integrates three main drivers of alpha—macro fundamental analysis, systematic analysis, and relative value analysis—to form and implement directional views on global financial markets. The firm pioneered this investment methodology and has managed the flagship hedge fund since April 2005, growing assets under management from $250 million at inception to a peak of $18 billion in 2019. The firm now predominantly manages assets for its principals after returning approximately $15 billion in external capital through five separate proactive capital returns.

Differentiator

Problem solved

Functional benefit

Products and services

• Element Capital Fund The flagship hedge fund of Element Capital Management, employing the firm's proprietary Modern Macro strategy and serving qualified investors (accredited investors, qualified clients, qualified eligible persons, qualified purchasers) globally.
• Modern Macro Strategy An evolved global macro investment approach that integrates macro fundamental, systematic, and relative value analysis to form and implement directional views on financial markets, pioneered by Element Capital.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature1 record

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Brevan Howard: Brevan Howard is a London-headquartered global macro hedge fund founded by Alan Howard. It is a direct peer to Element — both run concentrated global macro strategies, both have a New York/London footprint, and both have gone through periods of external AUM reduction followed by capital-return programs. Most comparable peer given similar style, scale trajectory, and founder-controlled structure.
• Caxton Associates: Caxton Associates is a New York-based global macro hedge fund founded by Bruce Kovner. Direct peer to Element — both run founder-controlled macro funds with similar AUM trajectories, similar lean team sizes, and similar emphasis on deep fundamental macro research blended with quantitative input.
• Rokos Capital Management: Rokos is a London-based global macro hedge fund founded by Chris Rokos, a former Brevan Howard partner. Direct peer — both run concentrated, leveraged global macro books with a similar blend of fundamental and systematic analysis, and similar headcount profiles.
• Capula Investment Management: Capula is a London-based global macro hedge fund founded by Yan Huo and Masao Asai, both former Nomura macro traders. Direct peer — both run discretionary global macro with rates and FX specialization, similar AUM bands (multi-billion), and similar institutional-only distribution model.
• Moore Capital Management: Moore Capital is a New York-based global macro hedge fund founded by Louis Bacon. Direct peer — both have run concentrated global macro strategies with similar emphasis on proprietary fundamental research, both have gone through periods of external AUM contraction, and both operate as founder-controlled private firms.
• Tudor Investment Corporation: Tudor is a New York-based global macro and quantitative hedge fund founded by Paul Tudor Jones. Direct peer in the discretionary macro space, with similar emphasis on global macro directional views combined with systematic risk management, and similar long-term track record in the industry.
• Sculptor Capital Management: Sculptor (formerly Och-Ziff) is a New York-based multi-strategy alternatives manager with significant credit and special situations exposure but also runs a discretionary macro book. Comparable in being a founder/PM-controlled alternatives firm with similar institutional client base and SEC-registered structure.

Broad incumbents

• Bridgewater Associates: Bridgewater is the world's largest global macro hedge fund, pioneering systematic macro investing. While operating at far greater scale than Element, it is the benchmark incumbent in the same Modern Macro / global macro category Element competes in, with a heavy systematic-research overlap that makes the competitive set directly relevant.
• Man Group / AHL: Man Group operates AHL, one of the largest systematic macro franchises globally. Comparable to Element in its systematic macro component and in blending discretionary and quantitative approaches, but operates at much greater scale and as a public company with broader product offerings.
• Citadel LLC: Citadel is one of the world's largest multi-strategy hedge funds, with a substantial global macro component run by former star PMs. Comparable to Element in macro expertise but operates at vastly greater scale, across multiple strategies, and within a multi-PM platform structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/element-capital-management

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Element Capital Management LLC