Griffin's Citadel Halts Year End Redemptions
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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."
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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