Empirica Capital
| Company type | Private |
|---|---|
| Industry | Hedge fund |
| Founded | 1999 |
| Founder | Nassim Nicholas Taleb, Mark Spitznagel |
| Defunct | 2005 |
| Headquarters | Greenwich, Connecticut , United States |
Empirica Capital LLC was a hedge fund established in 1999 by Nassim Nicholas Taleb and Mark Spitznagel, utilizing Taleb's investment approach based on the black swan concept. Headquartered in Greenwich, Connecticut, the firm ceased operations in 2005.
Among Empirica's investment vehicles, Empirica Kurtosis LLC delivered a notable 56.86% gain in 2000 but faced negative returns in the following years: -8.39% in 2001, -13.81% in 2002, and -3.92% in 2003. The fund’s methodology and results were featured in an article published by the New Yorker.
Taleb decided to close Empirica to dedicate more time to his writing and academic pursuits, also mentioning health issues as a factor. In 2007, Spitznagel founded Universa Investments L.P., with Taleb serving as an adviser, maintaining the use of black swan hedging techniques similar to those employed at Empirica.