Citadel LLC
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| Private company, Limited Liability Company | |
| Industry | Financial market, Hedge fund Management |
| Predecessor |
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| Founded | 1990 |
| Headquarters |
Citadel Center Chicago, Illinois, USA |
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Key people
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| Products | |
| AUM | US $149 billion |
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Number of employees
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1,400 |
| Website | www |
Citadel (formerly known as Citadel Investment Group, LLC) is an American global financial institution. Founded in 1990 by Kenneth C. Griffin, the company operates two primary businesses: Citadel, one of the world's largest alternative asset managers with more than $25 billion in assets under management; and Citadel Securities, one of the leading market makers in the world, trading products including , equity options, and interest rate swaps for retail and institutional clients.
Citadel is one of only three percent of hedge funds that have been in existence for more than 20 years. Recognized for its investment performance, the firm manages assets for many of the world's largest institutional investors including sovereign wealth funds, pensions, and university endowments. The company has more than 1400 employees, with headquarters in Chicago, and offices throughout North America, Asia and Europe.
As of January 2016, Citadel manages more than $25 billion in capital and is one of the world's largest asset managers. Citadel ranks as the eleventh largest hedge fund manager in the world, and the second largest multi-strategy hedge fund globally. Citadel's group of hedge funds rank among the largest and most successful hedge funds in the world. The hedge fund's assets under management has increased by 29% and more than $10 billion since 2014.
Citadel manages funds across five different investment strategies including equities, commodities, fixed income, quantitative strategies, and credit. The firm is known for its state-of-the-art technology, fundamental research, and strong risk management culture.
In 2011, the funds capped off two years of solid returns from 2009 and 2010 by crossing their high-water marks with gains of more than 20 percent, outperforming the industry average of 5 percent losses. The firm's Kensington and Wellington funds posted returns of about 25 percent in 2012, completing their recovery from the financial crisis.
In 2014, Citadel became the first foreign hedge fund to complete a yuan fundraising as part of a program to allow Chinese investors to invest in overseas hedge funds.
Citadel Securities was formed in 2002, and is a leading market maker, providing liquidity and trade execution to retail and institutional clients. Citadel Securities automation has resulted in more reliable trading at lower costs and with tighter spreads. Barron's recently ranked Citadel Securities #1 in providing price improvement for investors in both S&P 500 and non-S&P shares.
Citadel Securities makes markets in more than 7,000 U.S.-listed securities and in about 18,000 OTC securities worldwide. Citadel Securities is the largest market maker in options in the U.S., executing about 25 percent U.S.-listed equity options volume. According to the Wall Street Journal, about one-third of stock orders from individual investors is completed through Citadel, which accounts for about 10% of the firm's revenue.
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Wikipedia