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Alternative Market Briefing

PlusPlus Capital closes to outside investors

Wednesday, September 01, 2021

Bailey McCann, Opalesque New York for New Managers: New Jersey-based hedge fund PlusPlus capital has closed its fund to outside investors following a significant investment from an institutional investor. PlusPlus launched its flagship Global Alpha strategy in 2018.

PlusPlus is led by Murat Unluer and Kapil Rastogi, former traders at New York-based CTA R.G. Niederhoffer Capital Management and ISAM (International Standard Asset Management). The team left Madison Quant Labs (MQL) in early 2015 PlusPlus Capital Management and run the same quant strategy they had run at MQL.

PlusPlus' short-term program uses trading signals based on the current volatility regime of the market. By staying short-term, the strategy is able to capture pivots in the market environment and position accordingly. PlusPlus uses a proprietary technology platform it built internally over several years to monitor market volatility and other trading signals.

PlusPlus plans to add to its headcount on the heels of the new investment and is looking to add another researcher and data scientist to the team.

The strategy, which performed well during the pandemic, has taken advantage of the positive moves in the commodities market year to date. However, Rastogi tells Opalesque that the rally may not last.

"We've seen a decline in the grain markets and we see a continued decline coming for a number of reason......................

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