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

    Mr. Narula is the Founder and Managing Partner of Metacapital Management. Mr. Narula has 30 years of experience in mortgage trading and investments, including Agency and Non-Agency MBS, ABS, CMBS, CRE Debt, and other structured credit products. He is Metacapital's Chief Investment Officer and is involved in all aspects of the firm's overall development and investment strategy. Mr. Narula 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, Mr. Narula was Managing Director and head of mortgage backed securities trading desks at Lehman Brothers. Previously, Mr. Narula worked in Mortgage Research and was Head of the Mortgage Strategy Group at Lehman Brothers until 1995. From 1993 to 1995, Mr. Narula was a ranked analyst on the Institutional Investor All-American research team for his work on mortgage backed securities. Mr. 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 University and Columbia Business School.

  • David Copeman - Chief Financial Officer

    David Copeman is the Chief Financial 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.

  • Daniel Caffarelli - General Counsel & Chief Compliance Officer

    Mr. Caffarelli is the General Counsel & Chief Compliance Officer of Metacapital Management. He joined Metacapital in 2014 and has been a practicing attorney since 1999. From 2003 to 2014, he was in-house counsel at Guggenheim Partners, where he was Senior Legal Counsel to the Guggenheim Fund Solutions business and Deputy General Counsel to the Guggenheim Advisors business. Prior to Guggenheim Partners, Mr. Caffarelli was an associate in the Financial Products Group of the New York office of Clifford Chance US LLP, and prior to that, he was an associate in the Structured Finance Department of the New York office of Thacher Proffitt & Wood LLP. Mr. Caffarelli holds a B.A. with Distinction in All Subjects from Cornell University and a J.D. from Boston University School of Law.

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