Hedge fund that hosted staff to lavish Disney party expects to return $7B in profits to clients

Hedge fund Citadel expects to return about $7 billion in earnings to its buyers within the first week of January after a stellar efficiency this yr, a supply aware of the matter mentioned.

Reuters reported this month that 2022 was shaping as much as be certainly one of Citadel’s finest years when it comes to efficiency. Consequently, Citadel founder and billionaire Ken Griffin paid out of his personal deep pockets for about 10,000 employees and their households to converge on Walt Disney World in Florida for 3 days of celebrations. 

The hedge fund agency, which manages $59 billion in property, informed buyers its flagship Wellington fund returned roughly 32% by the tip of November.

Citadel didn't instantly reply to a Reuters request for remark.

This isn't the primary time Citadel has returned cash to its buyers, however this would be the largest quantity of revenue returned in a single yr. It has returned greater than $11 billion within the final 5 years as it's extra centered on efficiency, not on capital development, the supply mentioned.

This isn't the primary time Ken Griffin’s Citadel has returned cash to its buyers, however this would be the largest quantity of revenue returned in a single yr.

AP

Griffin paid out of his personal deep pockets for about 10,000 employees and their households to converge on Walt Disney World in Florida.

TNS

Whereas fears of rate of interest hikes and the Russia-Ukraine conflict weighed on capital markets all through 2022, leaving the benchmark S&P 500 down about 20%, hedge funds have weathered the downturn higher on common. Nonetheless, they're down 4.11%, in line with knowledge supplier HFR.