Inside the Citadel: Hedge Fund Giant Mulls IPO

Founder Ken Griffin gets cozy with Portfolio
By Caroline Miller,  Newser Staff
Posted Apr 16, 2007 10:39 AM CDT
Ken Griffin of Citadel

(Newser) Portfolio magazine debuts with a look inside Citadel Investment Group, the $13.5 billion Chicago hedge fund that's even more press-shy than most of its brethren. A rare chat with founder Ken Griffin reveals that he's thinking of taking Citadel public —which the magazine notes could be the biggest stand-alone hedge fund IPO in the US.

Citadel earned more than a 30% return last year, but as the field becomes overcrowded and the possibility of regulation looms, the 38-year-old billionaire is working to turn his company into a financial supermarket like Citigroup and Goldman Sachs. He and his French second wife—Portfolio calls her "the champagne to Ken Griffin’s Budweiser"—have become big art collectors and patrons.