Outside of equities, the highest-returning hedge fund strategies in 2020 were event-driven funds, which gained 9.3 percent for the year, according to HFR. Overcome excuses, improve the Confidence. How much money do I need to invest in a hedge fund? Click on the conversation bubble to join the conversation. Intellectual curiosity, innovative thinking, ability to work on a team and a drive to succeed are all critical factors for anyone to be successful here. By clicking above you agree to the Terms of Use If hedge funds had to liquidate a large market position quickly, prices could fall sharply, widening the circle of losses. 9. LCH estimates D.E. Griffins warning came weeks after his firm unveiled plans to develop a brand-new 1.7 million square foot trophy office tower in Midtownthat would become Citadels key hub in the city. It's difficult to assess what that actually means. The Miami-based fund, founded and run by Ken Griffin, topped. Mike Blake/Reuters. George Soros fund was at the top of his initial list in 2010, and Dalio later took the top spot for seven years before Griffin supplanted him this year. That caused both stocks and bonds to drop in value, meaning hedge funds that bet against falling prices lost out. He and Citadel were criticized for their role in the GameStop short squeeze of 2021, and he testified before a House Committee in February 2021. Minimum initial investment amounts for hedge funds range from $100,000 to upwards of $2 million. What is the average return of a hedge fund? He is the founder of Citadel Securities, one of Wall Street's biggest market-making firms, responsible for one of every five stock trades in the U.S. During the pandemic, Griffin funded the State Department's rescue of 800 U.S. citizens from Wuhan and donated $45 million to community initiatives in cities like Chicago and Miami. Since its founding in 1990, Citadel has reported net gains of $66 billion besting Dalio's Bridgewater, which generated net gains of more than $58 billion. According to a Capco study, 50% of hedge funds shut down because of operational failures. Citadel employees rate the overall compensation and benefits package 4.4/5 stars. Griffin, whose net worth has been valued by Bloomberg at $29.4 billion, built his fortune on quantitative analysis, or quant trading, which relies on computer algorithms and statistical analysis to gauge where the market is going. LCH estimates a 3.4% return for the top 20 funds last year, while the rest made losses of 8.2%. Piggyback the investment moves of the top-earning hedge fund with Forbes Billionaire Investor. The record-setting earnings are likely to fuel an ongoing debate over hedge fund pay and fairness. Griffin is the father of three children. Do you need a degree to start a hedge fund? towards fixed income assets to produce reliable returns and meet financial obligations. Hedge fund managers typically have a minimum of a bachelor's degree, although many companies prefer a master's degree. Why do people still invest in hedge funds? Ken Griffin is an American hedge fund manager and billionaire. Which hedge fund strategy has the highest return? Copyright 2023 Market Realist. Ken Griffin is an American entrepreneur who has a net worth of $28 billion dollars. The average Citadel Recruiter earns an estimated $96,860 annually, which includes an estimated base salary of $83,285 with a $13,575 bonus. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks. Citadel LLC is a separate entity from the market maker Citadel Securities, although both were founded and are owned by American financier Kenneth C. How much working capital do I need when buying a business? The unit is partly credited for the rise of retail brokerages such as Robinhood. Here are the 10 fund managers to know this year. Reviews: 92% of readers found this page helpful, Address: 6485 Kohler Route, Antonioton, VT 77375-0299, Hobby: Kayaking, Roller skating, Cabaret, Rugby, Homebrewing, Creative writing, amateur radio. The fund is understood to have recruited Sean Murphy, a former JPMorgan M&A associate and event driven analyst at London-based Carlson Capital as an equities portfolio manager. Microsoft planning to invest billions in controversial art REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, JPMorgan Chase requires some workers give 6 months notice before quitting, US home prices just did something they haven't done since 2012, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Madonna watches new boyfriend Joshua Poppers fight in New York City, Saving Private Ryan actor Tom Sizemore dead at 61 after brain aneurysm, How Ariana Madix discovered Tom Sandoval was cheating on her with Raquel Leviss, Max Scherzer's first look at the new pitch clock, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. Hedge funds, with the different strategies they use, can make money from [] Founded in 1990 by Ken Griffin, it has more than $62 billion in assets under management as of December2022[update]. [11], The fund has become known for having one of the largest personnel turnovers in Chicago gaining the nickname of "Chicago's revolving door"[57] and the New York Times reported "the firm is unique in its reputation for being a revolving door. Although the hedge fund industry has struggled in the past decade, its founders still yield great financial power. Funds that are net long on equity holdings like Lone Pine and TCI dropped down the list, and Chase Colemans Tiger Global, which was on last years list with $25 billion in net gains since inception, dropped out. Heatmaps of the top 13f holdings and a list of the largest trades made by Citadel Advisors, the hedge fund managed by Ken Griffin. These include courses such as BBA, BCom etc. Fanatics is making a major administrative change to its trading card and collectibles division hiring marketing industry veteran Ken Turner as its Chief Marketing Officer. Investment issues are the second leading reason for hedge fund closures at 38%. [1] Sopher said the dispersion between managers running multi strategy and macro funds and equity long/short strategies caused some funds to do well last year and some to struggle. [10], In 1998, Citadel started requiring investors to accept terms that "significantly restrict[ed] their ability to withdraw their capital", according to Institutional Investor. Can I use my wife bank account for Zerodha? As the founder and CEO of Citadel, how much is Ken Griffin's net worth? Hedge-fund giant Citadel made $16 billion for its investors last year, the largest annual gain ever made by a hedge-fund firm, according to research from LCH Investments. Citadel Solutions - Citadel's fund-administration arm. Hedge funds make money as part of a fee structure paid by fund investors based on assets under management (AUM). Griffin, an enthusiastic supporter of Florida Gov. [35] Citadel's group of hedge funds rank among the largest and most successful hedge funds in the world. Citadel is headquartered in Chicago at 131 South Dearborn Street, a few blocks west of the Art Institute. The Financial Times reported last May that Tiger Global had already lost $17 billion on the year, and its losses deepened slightly from there as it finished the year down 56%. By 2003, he was the youngest on the Forbes 400 list with a $650 million net worth. From a very young age, Griffin was entrepreneurial and had a vision for multiplying wealth. 2023 Investguiding. Citadel was started with $4.6 million in capital. Chartered Financial Analyst (CFA) is considered to be one of the best courses for hedge fund managers. 2. [30][31][32], As of January 2016, Citadel managed more than $29 billion in capital and was one of the world's largest asset managers. As of the 5th of April, he was worth $30.8 billion but today his net worth has dropped to $30.5 billion. [18] It was leveraged 7:1 and the biggest funds at Citadel finished 2008 down 55%. Early Life Investing in securities using credit lines follows a similar philosophy to trading on margin, only instead of borrowing from a broker, the hedge fund borrows from a third-party lender. Start a hedge fund to be your boss, to manage your funds, and to be profitable. What is minimum investment for Citadel hedge fund? Citadel is not stopping despite billions in losses. Licensing Requirements for Hedge Fund Managers The only universal license requirement for a hedge fund manager is an ordinary business license. The $16 billion profit that Citadel. How long does it take to discover a data breach? Bruce Covner founded Caxton in 1983, and Andrew Law succeeded him as CEO in 2012. Write the Hedge Fund Firm's Corporate Bylaws. On this Wikipedia the language links are at the top of the page across from the article title. Griffin has been married twice. Citadels windfall wasnt powered by any single outsized bet, but rather by successful trades across the equities and fixed income markets, according to Bloomberg. Hedge Fund ETFs allow investors to easily access popular trading and investing strategies employed by hedge funds. Last year, 900 hedge funds were launched. Access your favorite topics in a personalized feed while you're on the go. [4] If youve been thirsty for a legitimately huge UFC pay-per-view event, one that bridges the gap between casual mixed martial arts fans and the hardcore, there is one on the doc for Saturday night at the T-Mobile Arena in Las Vegas. Why do people still invest in hedge funds? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Subscribe to our Newsletter Business & Investing. Some hedge fund entities require a minimum investment amount ranging from $25,000 to $100,000, or in some cases as high as $1 million from accredited investors. Ken Griffin's Net Worth (Updated 2022) | Wealthy Gorilla Net Worth. Citadel also generated revenue by moving beyond options trading and expanding into equities, foreign exchange, credit indexes, commodities, exchange-traded funds, and interest-rate swaps. Their progress up the rankings in the past few years has been remarkable.. Partnering with companies for their initial public offerings and beyond, we manage the very first trade of an issuer's stock, as well as follow on offerings. Distress at crypto-focused banker Silvergate Capital risks impacting the functioning of digital asset markets and the U.S. regulatory landscape. In general, hedge funds can only operate successfully with large amounts of assets under management due to the powers of leverage and economies of scale. It also outpaced the roughly $15.6 billion made by investor John Paulson in 2007 classed as the "greatest trade ever" at the time, per Bloomberg. What I do sense from our managers is that the possibility of a major shock this year or in the coming years is quite high because of the state of public finances, leverage in the system.. In 2022, the largest gains were once again made by the large multi-strategy hedge funds like Citadel, DE Shaw and Millennium, Sopher said. These managers collectively generated $32.0 billion of net gains and were able to combine strong performances from several sources including macro, trading, quant and equity dispersion strategies.. The University of Chicago renamed its economics department after Griffin in 2017 after he donated $150 million. According to LCH data, the top 20 hedge funds churned $22.4 billion in profit after fees. Ken Griffin has brought his U.S. hedge fund, Citadel, to the forefront of investing news. We strive to identify the highest and best uses of capital to generate superior long-term returns for the worlds preeminent public and private institutions. [62] During an event at Georgetown University Griffin called the book "fiction". First, the failure of a large fund (or a number with similar portfolios) could pose risks to banks and other creditors. Griffin is the chief executive of the investment firm Citadel, which he founded in 1990. NXT offers a combination of training, experience, and exposure to get you to the next level in your career. and Privacy Policy. The HFRI Equity Hedge Index tracking equity-focused funds sank 12.7% last year, and its fund-weighted composite index broadly tracking the hedge fund industry fell 3.4%. Whats the real source of Cathie Woods ARK long-term performance? Bitcoin remains a small percentage of the hedge fund industry, but even the oldest and most established funds can see what's coming. [19], On January 17, 2012, Citadel's flagship funds, Citadel Kensington Global Strategies Fund Ltd and Citadel Wellington LLC, crossed their respective high watermarks, earning back the 50% of assets lost during the 2008 financial crisis. It has become one of Wall Streets biggest market makers or companies that quote the buy and sell price of securities and then profit from the difference in the bid-ask spread. "[21] Starting at the beginning of 2014, over an 18 months period the hedge fund's assets under management increased $10 billion; from $16 billion to $26 billion as a result of "a 29% rise for its main hedge funds and a flow of new cash. Are small businesses vulnerable to cyber attacks? Last year, he made a $150 million donation to the school. Morning Report delivers the latest news, videos, photos and more. Keep Reading . Citadel Losses in 2022. The $16 billion profit that Citadel netted for its investors surpasses the $15.6 billion bet made by John Paulson against subprime mortgages back in 2007. Register the Hedge Fund Offering with the SEC. How hard is it to get into Citadel hedge fund? 1. By then, the average hedge fund lost 4% and the benchmark S&P 500 stock index plunged 16% as the Federal Reserve wrestles with high inflation and a potential recession. Since its founding in 1975, Bridgewater has returned $52.2 billion in gains to its investors more than any other hedge fund on the planet. 18. Griffin, whos worth an estimated $31.9 billion, is seeking punitive damages and a trial by jury. Funds with between $500 million and $1 billion in assets under administration did the best with a median return of 3.4% and a weighted average return of 3.36%. Here are the 10 fund managers to know this year. [37], In 2021, Citadel ranked second among the top money managers for net gains. Portfolio Manager salaries at Citadel can range from $164,645 - $525,499 per year. Investing in hedge funds is one way high-net-worth individuals can grow their wealth. When you want to trade crypto or other assets for anyone other than yourself, you need an account that allows you to hold other people's money. Offers may be subject to change without notice. The 51-year-old billionaire is the founder and CEO of Citadel a hedge fund that manages nearly $30 billion worth of assets and he has a net worth of roughly $12 billion, according to. In 1999, Congress repealed a provision in the Glass-Steagall Act of 1933 that strictly separated banking and trading activities by financial firms. Our people are relentless in seeking a better way. 17. Without advertising income, we can't keep making this site awesome for you. What happens when no more shares to short? 36. Copyright Citadel Enterprise Americas LLC or one of its affiliates. They typically require investors to lock up money for a period of years. Citadel's record-breaking gains topped the seven-year winner Ray Dalio's Bridgewater on LCH's top hedge fund manager list for 2022. 2023 Forbes Media LLC. I see four explanatory . How long does it take to discover a data breach? [53], Citadel Technology, established in 2009, was a wholly owned and independently operated affiliate of Citadel. Based on 1536 salaries posted anonymously by Citadel Hedge Fund Analyst employees in Whitstable. But if you start with, say, $5 million, you will not have enough to pay yourself anything, hire others, or even cover administrative costs. Citadel made the largest annual profit (after fees) ever for a hedge fund in 2022 at $16 billion. Citadel's performance remained strong throughout 2022, where it had big gains in October thanks to rising stocks. How to Setup Slack Message Actions | Airtable Support, How to Make the Most of a Dermatologist's Salary. Citadel declined to comment on its investment strategy, but Griffin predicted to Forbes last year that high inflation would force central banks around the world to aggressively tighten interest rates and expressed concern about how sanctions against Russia would impact how the dollar is viewed around the world. His net worth has climbed by the billions over the past 10 years. 24. Initial investments can be anywhere from $100,000 to $1 million. [16][17] At the peak of the crisis, the firm was losing "hundreds of millions of dollars each week". Hedge funds help protect investors from market volatility and downturns better than other investment benchmarks. The University of Chicago honored Griffin for his large donation by renaming the department the Kenneth C. Griffin Department of Economics. Hedge funds are not as liquid as stocks or bonds either and may only allow you to withdraw your money after you've been invested for a certain amount of time or during set times of the year. The performance of the average hedge fund has declined from its peak of 18.9 percent in 2020, to 13.7 percent in 2021, according to Preqin's latest investor outlook report. In addition, this allowed Citadel to overtake Bridgewater in the list of the most profitable hedge funds in history according to experts from LCH Investments. After just one year of working for an investment firm, Griffin launched Citadel LLC in 1990. About Worth Media; Connect With Us Close. When breaking down everything that can go wrong, operations makes its case for number one. After a share-exchange transaction is announced, the hedge fund manager may buy shares in the target company and short sell the buying company's shares at the ratio prescribed by the merger agreement. Citadel surged past Ray Dalios Bridgewater to the top of the all-time list despite Bridgewaters estimated $6.2 billion in net gains in 2022. The institutional investors were demanding a return and would pay just about anyone who could promise them gains in the market. From seasoned leaders to new recruits, every member of our team helps develop and execute on powerful insights. Investment professionals, engineers and quantitative researchers come together to learn from each other and quickly build extraordinary careers. You can get paid very well in a hedge fund technology job. The strong numbers came as Citadel delivered a 38.1% return on its main hedge fund among hefty gains in other products last year, per the Financial Times, citing LCH Investments data. Citadel Securities is a market maker and trading firm. Another copy sold for $43.2 million at auction last year to billionaire Ken Griffin after he outbid ConstitutionDAO. All Rights Reserved. Never miss a story. LCH Investments reported that Citadels total gross trading profit last year amounted to $28 billion. His first hedge fund, started while in college, helped pave the way for him to eventually launch Citadel. Here are a few highlights: One of the Chicago museums that was a major beneficiary of Kenneth Griffin's financial contributions. You may opt-out by. Founded in 1990 by Kenneth C. Griffin, it has more than US$50 billion in assets under management as of May 2022. As a market maker, it serves as a broker-dealer that stands ready to buy and sell shares from investors looking to make a trade. How do I report excess contributions removed? [59], Citadel has played an active role in regulatory affairs and has advocated for financial legislation on market structure. Is investing in a hedge fund worth it? Is investing in a hedge fund worth it? How do I invest in the Citadel hedge fund? He even ran a discount mail-order education software company from home as a high school student. Yes, you could start with much less capital, or go through a hedge fund incubator, or use a friends and family approach, or target only high-net-worth individuals. Citadel is an asset management firm. That is to say, the vast majority of the investment value created by a hedge fund manager is not enjoyed by investors, but goes into his own pocket. One of the best ways for beginners to get started investing in the stock market is to put money in an online investment account, which can then be used to invest in shares of stock or stock mutual funds. Citadel has been hiring from rival funds in London as some long-serving staff leave. As a result, these funds ultimately cater to individuals who earn high incomes and have a considerable net worth. How do I report excess contributions removed? Hedge Fund Manager, Investor. The 10 Most Powerful Hedge Fund Managers This Year, Fiscal Justice Investing Is Changing the Municipal Bond Market, How Money Can Make or Break Your Relationship, Why Leaders Need to Embrace Disruption in Life and Language, Building on Black Americas Legacy of Resilience: A FinTech Blueprint, Leading Voices: Financial Literacy Produces Both Capital and Courage. "[9][58] It is also reported that turnover is aligned with the hedge fund industry. Citadel told investors its flagship Wellington fund returned roughly 32% through the end of November, a sharp contrast to much of Wall Street and the economy at large. 6. No Problem. As a fund of funds, LCH Investments was able to estimate the gains by these industry giants from its own investing activity. 8. People may receive compensation for some links to products and services on this website. [63], In 2014, former president Bill Clinton was paid $250,000 by Citadel to speak at New York restaurant Daniel to investors and employees in celebration of the Citadel's founders' 46th birthday. How much working capital do I need when buying a business? Citadels flagship Wellington fund returned 38% in 2022, helping the firm generate an estimated $16 billion in net gains last year according to LCH Investments. Investguiding is a website that writes about many topics of interest to you, a blog that shares knowledge and insights useful to everyone in many fields. The net worth . Hedge funds tend to be much less liquid than mutual funds. Forbes estimates that Griffin has given $1.5 billion to philanthropic causes. All Rights Reserved. Investguiding is a website that writes about many topics of interest to you, a blog that shares knowledge and insights useful to everyone in many fields. Griffin founded Citadel LLC in 1990, a hedge fund that made a record-breaking $16 billion profit last year. Thats what these ETF managers are aiming for with an AI-aided strategy. Within eight years, the firm had more than $2 billion in assets under management. [41], Citadel wanted to allocate the investment capital with its two funds, Kensington Global Strategies Fund Ltd and Citadel Wellington LLC, to investments that the company thought to be uncorrelated to their other investment strategies. [15], During the financial crisis of 20072008, for 10 months, Griffin barred his investors from withdrawing money, attracting criticism. Within a broad range of investment strategies, we deploy our capital with the objective of generating market-leading investment returns. In a report published on Monday by fund of funds LCH Investments, Citadel topped the top 20 hedge fund manager's list beating John Paulson's 2007 $15 billion gain, which has until now been . However, it would be better to go for courses in the field of finance, commerce or management for early skill-development. p. 3. Without advertising income, we can't keep making this site awesome for you. Hedge fund managers use a variety of investment strategies to obtain either higher returns or lower risk. Chicago-based Citadel appears to be the most leveraged of the 25 biggest US hedge funds, with an implied leverage of about 8.8 times investment capital, according to a Post analysis. How much does Citadel pay per year? Trader salaries at Citadel can range from $88,847 - $211,687 per year. Spouses: Katherine Weingartt (divorced 1996); Anne Dias (divorced 2015). Since its founding in 1975, Bridgewater has returned $52.2 billion in gains to its investors more than any other hedge fund on the planet. American hedge fund and financial services provider, This article is about the hedge fund. This is a BETA experience. The $16 billion profit that Citadel. How much money do you need to be a hedge fund? Retrieved 2008-03-20, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, "A Shadowy but Powerful Wall St. Firm Has Its Moment in Washington", "Hedge Fund Selling Puts New Stress on Market", "Citadel Chief Gives Up Dream for Investment Bank", "Citadel Planning $2 Billion Debt Offering", "Hedge Fund Citadel Finds a Way To Keep Financial Independence", "E*TRADE Financial Announces $2.5 Billion Investment Led by Citadel", "Citadel boosts E-Trade stake with $2.5 billion investment", "Citadel to sell its remaining stake in E*Trade", "Citadel's Ken Griffin Leaves 2008 Tumble Far Behind", "Citadel Securities Pays $97m to Settle with China Regulators", "How $34 billion hedge fund Citadel rented out a five-star resort for a month to pull off an in-person summer internship 'bubble' for more than 100 college students", "Ken's Kwarantine Kamp Opens Kohler Location For Eager Interns", "No Trading Floor? He also owns Citadel Securities, one of the largest market makers in the U.S. [3] In 2022 Griffin had an estimated net worth of US$27.2 billion and was ranked 53rd on the Forbes 400 list of richest people in the United States. Though the scheme may have started as far back as the 1970s and 1980s, Madoff remarked that it was in the early 1990s that he converted his hedge fund into a scam. [8] After graduating with a degree in economics, Griffin joined Chicago-based hedge fund Glenwood Partners. The stellar year for Citadel's flagship fund followed a 26% return in 2021 and decades of strong performance-$1 million invested in Wellington at inception in 1990 would be worth $328 million. Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. [64][65][66], Citadel paid over $800,000 in speaking fees to current secretary of the treasury Janet Yellen during 20182020 while she was not in office.[67]. How much money do you need to be a hedge fund? [23][24][25], In January 2021, Citadel and Point72 Asset Management invested $2.75 billion in Melvin Capital, after Melvin Capital lost 53% of its value owing to the GameStop short squeeze. [1] The company has over 2,600 employees, with corporate headquarters in Miami, Florida,[4][3]:1 and offices throughout North America, Asia, and Europe. Citadel's Recruiter compensation is $2,095 more than the US average for a Recruiter. Having $100 million will get you noticed by institutional investors. 31. What is the average return for a hedge fund? $2.5 billion, according to our most recent tally. What is the difference between capital formation and investment? Returns may be partly to blame. "[62] Griffin expanded by saying that high-frequency trading functions to reconcile discrepancies between options tied to groups of stocks and the stocks themselves, saying, "Somebody has to keep the New York markets in line with the markets in Chicago. This transaction included acquiring E-Trade's securitized subprime mortgages, collateralized debt obligations (CDOs) and second lien loans, as well as 12.5% senior unsecured notes, and 84,687,686 shares of common stock (equal to 19.99% of the then currently outstanding shares). Why do hedge funds make so much money? Kenneth Griffin is the head of Citadel, a massively profitable hedge fund. If the hedge fund has a 8% high water market, then the hedge fund can only earn 20% on $120 million, or $24 million in shared profits. [42] Meanwhile, New Castle Re remained open and received an 'A' rating from AM Best in November 2008. [61], Following the 2014 publication of Flash Boys by Michael Lewis, who claimed financial markets are "rigged by large, high-speed traders" (also known as "high-frequency traders") Griffin, who was not interviewed by Lewis, shared his views on the book and its allegations during his second congressional hearing. Citadel, which manages $38 billion in assets, is itself up about 9 percent through mid-August, according to one of the people, who had been briefed on the firm's returns. For those who prefer dealing over the phone, you can call Citadel at (312) 395-2100. The median return for all funds was 2.61%, while the weighted average return was 2.75%. Kenneth Griffin, billionaire businessman and Chief Executive officer of Citadel Hedge fund with $43 billion assets under management lost 3 billion since the beginning of April 2022. How do I invest in the Citadel hedge fund? Investment capital is combined across funds and includes equity (or members capital), plus any accrued performance allocation (or manager allocation) and accrued deferred payment obligations (where applicable). Hedge fund managers may have a degree in accounting, finance, economics or business administration. T he 25 members of The Forbes 400 who made their fortunes from hedge funds are worth a combined $185 billion, up $2.8 billion from last year. Griffin is the CEO of Citadel, a hedge fund with over $35 billion in . Hints and clues to help you with today's Wordle. [26][27][28][29], In a letter to employees on June 23, 2022, Griffin announced they would be moving their headquarters to Miami, Florida, due to a more favorable business climate and increased crime complaints in Chicago. Overall, the top 20 managers made $22.4 billion net of fees for their investors in 2022 and have made $691.6 billion net of fees for their investors since inception. Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company.