Capel Asset Management Limited has received direct authorisation from the UK's Financial Conduct Authority (FCA), effective from 5 October 2026.
According to its launch announcement, the London-based liquid alternatives manager launched following a management buyout from Downing LLP, with its Liquid Alternatives team and two investment strategies transferring to Capel. It provides multi-asset investment strategies combining derivatives, alternatives, and traditional assets for institutional investors, discretionary fund managers, and independent financial advisers. Its permissions include managing investments and dealing in investments as agent.
Russell Catley holds the SMF1 Chief Executive, SMF16 Compliance Oversight, and SMF17 Money Laundering Reporting Officer (MLRO) roles. Catley previously led Downing’s Liquid Alternatives team and held senior roles at AXA and Citi before founding Atlantic House Group in 2007.
Paul Adams holds the SMF3 Executive Director role. He is Chief Investment Officer and has built cash-equities and equity-derivatives businesses at RBC, Nomura, Lehman Brothers, and WestLB Panmure.
Jonathan Gumpel also holds the SMF3 Executive Director role. He is Head of Multi-Asset. He co-founded Brooks Macdonald in 1991 and led its funds business, including the Defensive Capital Fund.
Richard Watts holds the SMF9 Chair of the Governing Body role. The non-executive Chair has held senior roles at JPMorgan, F&C Investments, BMO Global Asset Management, and Columbia Threadneedle.
