Team

Metacapital Management was founded in 2001 by Deepak Narula, a former Senior Trader and Mortgage Strategy Head at Lehman Brothers. Metacapital’s portfolio management team has on average more than twenty years of experience in analyzing prepayment, credit and default risk in the U.S. residential and commercial mortgage markets.

Metacapital’s cohesive team consists of seasoned portfolio managers and professionals with past experience at respected institutions and academic degrees from top schools.

  • Deepak Narula - Managing Partner & Co-CIO

    Dr. Narula is the Founder, Managing Partner, and Co-Chief Investment Officer of Metacapital Management. He has over 30 years of experience in mortgage trading and investments, including Agency and Non-Agency MBS, ABS, CMBS, CRE Debt, and other structured credit products. Dr. Narula is involved in all aspects of the firm's overall development and investment strategy. He is responsible for ensuring the firm's adherence to its fundamental investment philosophy, communicating with clients regarding investment products and strategies, and providing his experience to major investment decisions. Prior to founding Metacapital in 2001, Dr. Narula was Managing Director and head of mortgage backed securities trading desks at Lehman Brothers. Previously, he worked in Mortgage Research and was Head of the Mortgage Strategy Group at Lehman Brothers until 1995. From 1993 to 1995, he was a ranked analyst on the Institutional Investor All-American research team for his work on mortgage backed securities. Dr. Narula holds a Ph.D. in Management Science from Columbia University and a B.Tech in Electrical Engineering from the Indian Institute of Technology (IIT) Kanpur. In addition, he has taught courses at Columbia Business School.

  • Michael de Asla - Co-CIO

    Mr. de Asla is the Co-Chief Investment Officer at Metacapital Management, which he joined in 2012. He has nearly 25 years of industry experience trading and investing in mortgage securities, interest rate derivatives and, most recently, California Carbon Allowances. Mr. de Asla serves as a Portfolio Manager for both the Mortgage Opportunities Fund and the Metacapital Carbon Fund. Before joining Metacapital, Mr. de Asla spent over 13 years at Merrill Lynch and subsequently Bank of America where he managed a mortgage derivatives book, traded mortgage and rate options, and managed a mortgage index total return swap strategy. From 1993 to 1997, he worked as a Mechanical Engineer for Ford Motor Co. Mr. de Asla holds an M.B.A. with a concentration in Finance from the Wharton School along with an M.S. and B.S in Mechanical Engineering from the Massachusetts Institute of Technology.

  • David Copeman - CFO & CCO

    Mr. Copeman is the Chief Financial Officer and Chief Compliance Officer. He joined Metacapital in 2016. From 2005 to 2015, Mr. Copeman was with Reservoir Capital Group, where he acted as the Tax Director and as the Chief Financial Officer for various funds. Prior to Reservoir Capital Group, Mr. Copeman was a Senior Tax Manager and Attorney at General Electric Commercial Finance and a Senior Tax Manager at Arthur Andersen LLP. Mr. Copeman has also been an associate at the accounting firm of Margolin Winer & Evens LLP and a Senior Tax Consultant at Ernst & Young. Mr. Copeman holds a Bachelor of Science degree in Business Administration from the State University of New York at Albany and Juris Doctorate and Masters in Business Administration (Accounting) degrees from Hofstra University.

  • Gil Garber - Head of Operations

    Mr. Garber is the Head of Operations at Metacapital Management. He joined Metacapital in 2013 and is responsible for overseeing the operations and finance departments. Prior to joining Metacapital, Mr. Garber worked at Nomura Asset Management USA where he was responsible for transitioning the operations from Proxima Alfa Investments (formerly Vega Asset Management USA) to the Nomura platform. While at Nomura he oversaw the operations for two global macro funds. Prior to being part of the transition from Proxima to Nomura in 2008, Mr. Garber worked in the operations department at Proxima from 2005 to 2008 where he began his career. Mr. Garber holds a B.A. in Economics from Cornell University.

  • Rajneesh Salhotra - Chief Risk Officer

    Mr. Salhotra is the Chief Risk Officer at Metacapital Management. He has over two decades of experience in securitized products spanning ABS, CMBS and RMBS. He joined the firm in 2016 as a Portfolio Manager responsible for securitized credit investments. Prior to joining Metacapital, he had been with Bank of America since 2002 with a focus on trading securitized credit and structuring securitization transactions. He also headed the Strategy group responsible for regulatory capital optimization within the Bank’s Capital Management function. Previously, he had worked at ICICI Bank in the capital markets, advisory services and securitization groups from 1995 through 2000. Mr. Salhotra holds an M.B.A. with specialization in Finance and Accounting from NYU Stern School of Business, an M.B.A. from Faculty of Management Studies, University of Delhi and a Bachelor of Science in Mathematics from Hindu College, University of Delhi.

  • Dhivya Krishna - Head of Research

    Dr. Krishna is the Head of Research at Metacapital Management. She has over 16 years of experience in research, developing models and analytics for all MBS products. Prior to joining Metacapital, she led the Agency MBS team at Nomura Securities. She worked at Nomura Securities for over 10 years as the lead prepayment strategist. She has been ranked by Institutional Investor for her work in Agency Prepayments. Previously, she worked at Bank of America for about four years where she started out in the analytics and modeling department before moving to research. She holds a Ph.D. in Electrical Engineering from Rensselaer Polytechnic Institute and a B.Tech in Electrical and Electronics Engineering from R.V. College of Engineering, Bengaluru.

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