Founded in 1990 by trader Kenneth C. Griffin, Citadel LLC (previously known as Citadel Investment Group, L.L.C.) is an international financial organisation based in Chicago, Illinois. The firm sets up investment capital across multiple asset classes and strategies. Existing activities include equity options market-making, hedge fund management, investment banking advisory, and a fund of funds business that deploys capital with unaffiliated managers.
With over $15bn in assets under management, the firm remains one of the world’s major hedge funds and its daily trading volume amounts to approximately 3 percent of average daily trading activity in London, New York, Hong Kong and San Francisco. Additionally, the firm’s Citadel Securities businesses complete and route more than 30 percent of average US listed equity options trading volume and more than 8 percent of average NASDAQ and NYSE equities volume.
Although Citadel employs over 1,400 individuals globally, its flagship operation is located in the Citadel Center, a $355m office tower in the centre of downtown Chicago; in 2006 the tower was purchased for $560m by Robert Gans. Citadel also has offices in New York, Hong Kong, San Francisco and London. Of the 100 largest hedge funds, Citadel’s is the only one based in Chicago. Citadel is the eleventh largest hedge fund manager in the world; it is also the second largest multi-strategy hedge fund manager in the world.
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