Metacapital's Narula Buys Madonna's Manhattan Apartment

May 29 2013 | 9:48am ET

Metacapital Management's Deepak Narula is celebrating his arrival as one of the hedge fund industry's most successful managers with a home fit for a pop star.

Narula has bought singer Madonna's huge duplex on Central Park West—and for a bargain price, at that. The six-bedroom, 6,000-square-foot duplex, which Madonna built by combining smaller units in Harperley Hall, has been on the market for six months, and had its listing price of $23.5 million cut to $19.995 million in February, and The Wall Street Journal reports that Narula paid considerably less than that.

The apartment sits on the fifth and sixth floors of the hundred-year-old building, at the corner of West 64th Street, with views over Central Park. It has 15 rooms, including a pair of large living rooms with balconies and eight bathrooms, including one large marble bathroom with a claw-foot tub.

Narula has been one of the most successful hedge fund managers in recent years, posting double-digit gains in both 2011 and 2012. Metacapital manages more than $10 billion in assets.

For her part, the Material Girl may be ready to move into the three adjacent townhouses on East 81st Street that she bought for $32.5 million in 2009 and spent the past four years renovating.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR