Citadel to Return $7 Billion to Clients After Double-Digit Gains

Ken Griffin's firm outperforms peers, with flagship Wellington fund gaining about 15% through November.

Ken Griffin's Citadel plans to return about $7 billion to clients after double-digit gains in its multistrategy hedge funds over the past two years bumped assets to $63 billion.
The firm's flagship Wellington fund gained about 15% through November, according to a person familiar with the matter, after a 38% gain in 2022.
Hedge fund managers sometimes give capital back to investors to keep their funds from growing too large to make profitable investments in certain asset classes. Citadel routinely returns profits to clients.
Citadel’s performance is an outlier among its multistrategy peers, many of which have posted single-digit returns this year.
On Tuesday, Griffin, the world’s most successful hedge fund manager in terms of earnings, announced he and billionaire David Geffen donated $400 million to the Memorial Sloan Kettering Cancer Center.