Form D · Hedge Fund

Capula Tail Risk Fund Ltd

Grand Cayman, E9 · CIK 0001588338

Offering snapshot reported Oct 9, 2026 · SEC filing

Reported sold: $3.94B
Investors reported: 295
Minimum accepted: $100K
First sale: Oct 1, 2010

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$3,328,565,936 → $3,938,587,252
Reported investors292 → 295

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Oct 9, 2026	Amendment	$3,938,587,252	$610,021,316vs Oct 10, 2025	295	SEC filing
Oct 10, 2025	Amendment	$3,328,565,936	$14,119,638vs Oct 11, 2024	292	SEC filing
Oct 11, 2024	Amendment	$3,314,446,298	$0vs Oct 13, 2023	291	SEC filing
Oct 13, 2023	Amendment	$3,314,446,298	$6,500,000vs Oct 14, 2022	291	SEC filing
Oct 14, 2022	Amendment	$3,307,946,298	$37,200,000vs Oct 15, 2021	291	SEC filing
Oct 15, 2021	Amendment	$3,270,746,298	$97,800,000vs Oct 16, 2020	288	SEC filing
Oct 16, 2020	Amendment	$3,172,946,298	$78,250,000vs Oct 17, 2019	284	SEC filing
Oct 17, 2019	Amendment	$3,094,696,298	$122,500,000vs Oct 4, 2018	281	SEC filing
Oct 4, 2018	Amendment	$2,972,196,298	$471,250vs Oct 6, 2017	277	SEC filing
Oct 6, 2017	Amendment	$2,971,725,048	$0vs Oct 7, 2016	270	SEC filing
Oct 7, 2016	Amendment	$2,971,725,048	$65,000,000vs Oct 8, 2015	270	SEC filing
Oct 8, 2015	Amendment	$2,906,725,048	$1,750,000vs Oct 8, 2014	269	SEC filing
Oct 8, 2014	Amendment	$2,904,975,048	$0vs Oct 8, 2013	267	SEC filing
Oct 8, 2013	Initial	$2,904,975,048	No comparison	267	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-204196

Source: Form D, filed Oct 9, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

CAPULA TAIL RISK MASTER FUND LIMITED

Investment adviser: CAPULA INVESTMENT MANAGEMENT LLP

Gross asset value: $31.3B
Beneficial owners: 45
ADV minimum commitment: $5M

Reported in Form ADV on Jun 12, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C FUND SERVICES (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor ERNST & YOUNG LTD. GRAND CAYMAN, Cayman Islands Other funds reporting this name →

Custodian BARCLAYS BANK PLC LONDON, United Kingdom Related to adviser: No Other funds reporting this name →

Custodian BARCLAYS CAPITAL INC. NEW YORK, New York, United States Related to adviser: No Other funds reporting this name →

Custodian BARCLAYS CAPITAL SECURITIES LIMITED LONDON, United Kingdom Related to adviser: No Other funds reporting this name →

Custodian BNP PARIBAS, LONDON BRANCH LONDON, United Kingdom Related to adviser: No Other funds reporting this name →

See filing for more → Showing the first 6 providers by role and name. IAPD may show a newer filing.

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

ERNST & YOUNG LTD.
PCAOB 1655

BARCLAYS BANK PLC
LEI G5GSEF7VJP5I7OUK5573

BARCLAYS CAPITAL INC.
SEC 8-41342 · LEI AC28XWWI3WIBK2824319

BARCLAYS CAPITAL SECURITIES LIMITED
LEI K9WDOH4D2PYBSLSOB

Fund asset history · 5 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2022	$17,653,754,217	45	Jun 29, 2022
2023	$12,221,172,640	59	Jun 29, 2023
2024	$13,933,650,899	47	Jun 27, 2024
2025	$23,460,384,563	49	Jun 30, 2025
2026	$31,251,168,119	45	Jun 12, 2026

Filing source

Form ADV 2106679 · Jun 12, 2026 · Schedule D 7.B.(1), fund 805-9956713521

Reported by CAPULA INVESTMENT MANAGEMENT LLP (CRD 163364).

Annual Updating Amendment ERA Report · fiscal year 2026.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Henning Bruder	Director
Capula Investment Japan Limited	Executive
Capula Investment Management Asia Limited	Executive
Capula Investment Management Llp	Executive
Capula Investment Management (Me) Ltd	Executive
Capula Investment Management Singapore Pte. Ltd.	Executive
Capula Investment Manager Llp	Executive
Capula Investment Us Lp	Executive
Capula Management Limited	Executive
Capula Mangement Limited	Executive
Julie Hughes	Director
Masaki Okada	Director
David Sargison	Director
Glen Wigney	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

Ugland House
Grand Cayman, E9, KY1-1104
Phone: (345) 949-8055