Citadel's Ken Griffin to Build a Hedge Fund Empire in Chicago
In part by doubling down on technology, an American hedge fund manager, founder and CEO of Citadel, a global alternative investment firm, would build a $24 billion hedge fund empire in Chicago.
That
fortune is at the heart of a divorce battle with his wife Anne Dias
Griffin. She recently raised eyebrows by demanding $1 million in monthly
expenses, including a whopping $160,000 a month for hotels and $2,000 a
month for stationery.
Citadel's
success: Despite the controversy swirling around Griffin, his hedge
fund continues to hit home runs -- even as many of its peers are barely
hitting singles.
Citadel
has three big funds, all of which beat the market by a lot last year.
The Citadel Tactical Trading fund surged nearly 27% last year, while its
Global Equities Fund climbed over 23%, according to a person familiar
with the matter. Citadel's flagship Wellington fund jumped 18% in 2014.
By
comparison, the S&P 500 "only" gained 11% last year. Citadel's
rivals did far worse, with the average hedge fund posting a gain of just
2.2%, according to data tracker eVestment.
"He
is one of the top managers -- period -- among ETFs, mutual funds and
hedge funds," said Raul Moreno, co-founder and CEO of iBillionaire,
which tracks the holdings of a pool of uber-rich investors like Warren
Buffett and Carl Icahn.
Source: CNNMoney