The firm specialises in the area known as liquid alternatives; these offer a way for investors to gain access to relatively illiquid assets, usually via listed markets or a vehicle offering daily liquidity.

Capel Asset Management (Capel), a liquid alternatives asset manager, opened for business yesterday, operating defined outcome and multi-asset solutions.

The launch follows a management buyout from Downing LLP. The old Downing liquid alternatives team has transferred to Capel as well as the two strategies it manages. (Liquid alternatives are funds that package complex, hedge-fund-style strategies into a publicly traded, daily liquid vehicle.)

Capel’s core leadership team comprises CEO Russell Catley, chief investment officer Paul Adams, head of multi-asset Jon Gumpel, and non-executive chairman Richard Watts. 

The two investment strategies are the MGTS Capel Active Defined Return Assets Fund and the MGTS Capel Diversified Opportunities Fund. With an external mandate, the funds have combined assets under management of more than £405 million ($535.5 million), with the former fund raising £280 million since its launch in February 2025 (figures as at 30 September).

Capel is targeting clients including institutional investors, discretionary fund managers and IFAs.

“The launch of Capel marks a significant new chapter for the team as an independent owner-managed entity, building on our exceptional growth over the last 18 months,” Catley said. “More importantly, we are very encouraged by the reaction this news has received by our existing clients who understand the logic behind it and are fully supportive of our proposition.”