Tuesday, January 08, 2008

Citadel: A Hedge Fund's Savvy Ascent

For hedge fund magnate Kenneth C. Griffin, 2007 was the best year ever. His Citadel Investment Group emerged as one of Wall Street's top opportunists, picking up the pieces of fallen peers on the cheap. With such deft moves, Citadel rang in 30%-plus gains last year, vs. 12% for the average fund.

How could Griffin top that in 2008? An initial public offering of Chicago-based Citadel might do the trick. That would not only cement his reputation as a power player on the Street but also pad his bank account. The 38-year-old Harvard grad, who welcomed his first child in early December, is already estimated to be worth more than $2 billion.

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