Crain’s reports that the two main hedge funds run by Citadel LLC CEO Ken Griffin delivered returns of 20.4% last year, recouping most of the losses his clients endured in 2008, according to a source familiar with the firm's results. Chicago-based Citadel's Kensington and Wellington funds lost 55% in 2008, but then recovered 62% in 2009 and 11% in 2010.
The consecutive gains mean that Citadel clients, depending on when they placed money with the firm, have seen their investments climb back to or above pre-2008 levels. For Citadel, the biggest hedge fund company in Chicago with about $11.5 billion in assets under management, returning to the former so-called high-water mark means it once again can start retaining a slice of returns.
Citadel's 2011 results were among the top ten best performances of hedge funds with $1 billion or more under management, according to a Bloomberg ranking….
Read more: http://www.chicagobusiness.com/article/20120111/NEWS01/120119958/citadel-outperforms-hedge-fund-rivals-with-20-gain-in-2011#ixzz1jAkfsAKg
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