Monday, 28 July 2014
Last updated 3 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…