Greatest trade ever?  Citadel's $16 billion haul smashes hedge fund records |  CNN Business


Citadel is now the most successful hedge fund at any time right after it created $16 billion very last calendar year — the largest annual windfall on history.

The Miami-based fund, started and run by Ken Griffin, topped the 2022 ranking of the world’s best-performing hedge cash primarily based on estimates from LCH Investments NV. Its enormous gains came as numerous other investors endured from steep drops in fairness and bond markets.

Citadel’s report-breaking overall performance past yr took overall gains for the fund because its inception to just about $66 billion. That knocked Ray Dalio’s Bridgewater — with gains of $58.4 billion — off the major place for the initially time in 7 several years.

Dalio’s fund made $6.2 billion previous year, bringing whole assets under administration to $81 billion. Citadel manages $62 billion in property.

“[Citadel’s $16 billion profit] even surpasses [John] Paulson’s 2007 attain, which has been described as ‘the biggest trade at any time,’” Rick Sopher, chairman of LCH Investments, reported in a press release on Monday.

Paulson, an investor, created $15 billion in 2007 after he guess that the value of securities backed by subprime mortgages would collapse, an occasion that served cause the global economical crisis.

“[Citadel’s] progress up the rankings in the earlier number of a long time has been remarkable,” Sopher included.

Sopher said that Citadel, which started out in 1990, does not count on an investment decision system tied to rising asset charges, and has “multiple sources of earnings,” two components which may well reveal its file get inspite of a volatile journey for marketplaces past 12 months.

General, the leading 20 hedge cash designed $22.4 billion net gains in 2022, down practically 66% from the calendar year in advance of when markets were being soaring, according to LHC Financial commitment information. The S&P 500 index, by comparison, lost about 19% final calendar year.

Citadel told CNN that it would not remark on a story similar to its efficiency.

LCH was launched in 1969 and is the world’s oldest fund of hedge funds.

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