Griffin's Citadel Halts Year End Redemptions

Ken Griffin's Citadel Investment Group, reeling from large hedge fund losses, halted year-end withdrawals from its two biggest funds, Kensington and Wellington, after investors sought to take out $1.2 billion.

Citadel said withdrawals may resume as early as March 31 from the two funds. The funds, which total about $10 billion, have lost 49.5% of their value through December 5th.

In a letter to investors Griffin apologized for the halt, saying, "We recognize how a suspension impacts our investors, especially those with current financial obligations of their own to meet."

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