Citadel said to book 27% return

Last year, returns at the fund topped 30% after it took over some assets from Amaranth Advisors.
NOV 26, 2007
By  Bloomberg
Despite market volatility, Citadel Investment Group LLC has gained 27% year-to-date, in what is shaping up to be the hedge fund's second consecutive year of double-digit returns, The Chicago Tribune reported. Last year, returns at the Chicago-based hedge fund topped more than 30% after it took over some assets from Amaranth Advisors LLC, which collapsed in September 2006. This year, Citadel purchased the assets of Sowood Capital Management LP, a distressed hedge fund manager, after the firm's two hedge funds lost more than 50% of their assets during the summer's credit crunch (InvestmentNews, July 30) . The average hedge fund is up 11.8% this year, down slightly from the 12% in 2006, according to Hedgefund.net. Citadel was founded by chief executive Ken Griffin in 1990, manages $16 billion in assets.

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