Capital Fund Management (CFM) is a hedge fund management company based in Paris with offices in New York and Tokyo. Founded in 1991 by Jean-Pierre Aguilar, CFM merged in 2000 with Science & Finance the research company founded in 1994 by Jean-Philippe Bouchaud. Since the death of Jean-Pierre Aguilar in July 2009 the company has been managed by Jean-Philippe Bouchaud, Philippe Jordan, Marc Potters and Jacques Saulière. CFM is one of the largest French hedge funds, managing $3 billion in 2009 and $6 billion in 2012. CFM has over 120 employees worldwide.