Citadel posts record revenues for hedge fund, securities ops in 2022 - source (updated)

Citadel Income Fund

05/01/2023 18:47

(Adds funds performances and changes sourcing)
       Jan 5 (Reuters) - Kenneth Griffin's Citadel marked
record revenues in its hedge fund and electronic-trading
businesses for 2022 despite turmoil in global capital markets, a
source familiar with the matter said on Thursday.
    The hedge fund operation made about $28 billion in revenue,
while Citadel Securities, one of the world's biggest
electronic-trading firms, brought in $7.5 billion.
    Record revenues from the hedge fund unit comes in a year of
stellar performance for Citadel's funds. Its flagship fund
Wellington posted gains of 38.1% last year, while the fixed
income fund went up 32.58%, for instance, according to the
source.  
    The hedge fund was also expected to return about $7 billion
in profits to investors in the first week of January after a
stellar performance last year, a source familiar with the matter
had told Reuters in December.
    Citadel, which manages roughly $60 billion in assets, did
not immediately respond to a Reuters request for comment on the
matter.
        The Wall Street Journal reported earlier on Citadel's
record revenues.  
    Fears of interest rate hikes and the Russia-Ukraine war
weighed on capital markets throughout 2022, leaving the
benchmark S&P 500  .SPX  down about 19%, but hedge funds have
weathered the downturn better than other financial firms.
 (Reporting by Manya Saini in Bengaluru and Carolina Mandl in
New York; Editing by Devika Syamnath and Marguerita Choy)
 ((Manya.Saini@thomsonreuters.com;))