• Banks, Bear Stearns, Blackstone, Citadel, JC Flowers, Lehman

    Is There A Market Gap In Post-Bear Investment Banking World?

    David Ellis asks who might “fill the hole” in the investment banking world left by the collapse of Bear Stearns. The usual names get bandied about: Blackstone, JC Flowers and Citadel are the top contenders. All three have expanded into areas traditionally dominated by investment banks. And, as Ellis points out, in the not-so-distant past […]

    / Jun 9, 2008 at 12:27 PM
  • Citadel

    Citadel IPO: Business Week Says Maybe This Year, Or Maybe Not

    Whenever people talk hedge fund IPOs, the name Citadel inevitably comes up. The $20 billion firm found by Ken Griffin is sometimes described as an investment bank masquerading as a hedge fund, with diverse operations that go far beyond ordinary hedge fund operations. And now it seems that the much talked about initial public offering […]

    / Jan 4, 2008 at 11:31 AM
  • Citadel

    Citadel Denies Bank Of America Deal From Behind A Veil Of Anonymity

    So after the New York Post reported this morning that Citadel Investment Group had taken a look at Bank of America’s prime brokerage unit, Citdadel attempted to throw cold water on the story by denying it was in negotiations to buy the unit. But don’t take this denial at face value. The Post reported this […]

    / Dec 20, 2007 at 3:52 PM
  • Bank of America, Citadel

    Would You Make Citadel Your Prime Broker?

    Citadel is often described as an investment bank masquerading as a hedge fund. And it looks like it may be moving even further in the direction of becoming a full-fledged investment bank. This morning Roddy Boyd and Zach Kouwe report for the New York Post that Citadel is in talks to buy Bank of America’s […]

    / Dec 20, 2007 at 11:50 AM
  • Citadel

    Will E*Trade Deal Cause More Write-Downs?

    Earlier today we pointed out that the seventy-four percent discount on the asset backed securities Citadel has acquired from E*Trade will likely trigger a good deal of consternation on Wall Street. For the past few months banks and brokerages have been struggling to re-asses their credit portfolios. Even after a series of write-downs on those […]

    / Nov 29, 2007 at 1:42 PM
  • Citadel

    Will Banks Mark ABS To The Citadel-E*Trade Market?

    As has now been widely reported, Citadel has swooped down into E*Trade’s coffers and delivered the internet bank and brokerage $2.5 billion in cash. Investors seem to like this deal, pushing up E*Trade’s share price in early morning trading. The lads and lasses at DealBook have a bit of a laugh this morning in a […]

    / Nov 29, 2007 at 11:19 AM
  • Citadel

    Citadel IPO?

    When Citadel hired John Andrews, Goldman’s head of investor relations, last month, as a managing director, everyone was all, “oooh, IPO,” “oooh, already stacking the deck for next year’s softball playoffs” (Andrews is supposed to be decent on the mound, I don’t know, we hear weird stuff). Bringing in Andrews, who Goldman signed in 1999, […]

    / Oct 12, 2007 at 12:33 PM
  • Citadel

    / Aug 29, 2007 at 11:54 AM
  • Citadel, Hedge Funds

    Sentinel Files For “Not Our Problem” Bankrupcty

    Confused cash management firm Sentinel deployed the “oops we had no idea what we were doing” escape pod late Friday, and filed for Chapter 11 bankruptcy. The firm, which, up until recently, managed about $1.6 billion of assets, said that it decided Chapter Once was in “the best interests of the corporation, its creditors and […]

    / Aug 20, 2007 at 10:35 AM
  • Citadel, Hedge Funds

    Sentinel Continues To Knock ‘Em Out Of The Park

    Sentinel, the troubled investment manager that, you’ll recall, couldn’t figure out which regulatory body to ask permission to halt a massive number of redemption requests earlier this week, is now probably going to be sued over allegations that it sold assets to Citadel without notice, and at discounts of as much as 30 percent to […]

    / Aug 17, 2007 at 11:46 AM
  • Citadel, Hedge Funds

    Sowood Manager Can’t Stop Apologizing

    Bucking the trend that Harvard (Management Company) produces people with little use for air freshener and that love means never having to say you’re sorry, a “contrite” Jeff Larson spoke to clients yesterday during a ten minute conference call in which he tried to explain how their $3 billion investment shriveled up (but more so […]

    / Aug 6, 2007 at 10:29 AM
  • Citadel, Hedge Funds, Regretfully Yours

    Sowood Is So Sowwy

    The letter a hedge fund manager sends to his/her investors in the event of bad news like, say, a meltdown, etc., is an exercise in trying to jam a huge ego and an “I’m sorry, but I’m not really sorry, but I’m saying I’m sorry” onto one page. We’ve been calling him out a lot […]

    / Jul 31, 2007 at 9:49 AM
  • Citadel, Hedge Funds

    Sowood Makes Citadel Look Good

    Sowood Capital, blistered by big losses in its bond portfolio resulting from the current state of affairs in subprime mortgages and karma for Harvard being one of its biggest investors, voluntarily left the credit business today, after being asked to leave. The erstwhile multi-strategy fund, founded by Jeffrey Larson, sold its credit positions to Citadel, […]

    / Jul 30, 2007 at 4:11 PM
  • Citadel, Dan Loeb, Hedge Funds, Ken Griffin, Third Point

    Dan Loeb: Ken Griffin Is A Gerbil

    Fortune’s big “unauthorized” profile of Citadel boss Ken Griffin in now online and it delivers exactly the kind of slimy dirt you were hoping for. There’s the vague intimations that Amaranth’s collapse was something of an inside job. There’s the sentence which stops short of calling Anne Griffin a “trophy wife” but just barely (“He’s […]

    / Apr 3, 2007 at 11:15 AM
  • Citadel, General Electric, Hedge Funds

    Is Goldman’s Chinese Wall Leaking?

    It’s putting things a bit mildly to say, the the New York Post puts it, that “Goldman Sachs is raising eyebrows” with its disclosure that it has amassed a 7 percent stake in Ion Media Networks. Citadel and General Electric‘s NBC have partnered to target Ion for a buyout, and Goldman is advising NBC on […]

    / Feb 16, 2007 at 9:30 AM
  • Citadel, Hedge Funds

    Citadel Suit Dropped Because of False Charges or Flashbacks To Sigma Chi Luau of ‘86?

    A lawsuit filed by Rush Simonson against Ken Griffin and Citadel has been dropped, according to the hedge fund. The suit, which alleged that Griffin had stolen a business plan that he and Simonson had developed together in the 80s, was voluntarily withdrawn by Simonson on January 17, without compensation for dropping it. Simonson’s lawyer […]

    / Jan 22, 2007 at 8:10 AM
  • Citadel, Goldman Sachs, Hedge Funds, SAC Capital

    This Is Why The Nebbishy Master Of The Universe Can’t Sleep At Night

    Remember, back in November, when there were all those rumors about a hedge fund in trouble, and even though Citadel vehemently—almost suspiciously so—denied that it was them, people were still kind of like “Sure, it’s not you, Citadel, we believe you” wink, wink? Apparently, according to Bloomberg, they weren’t bluffing. (SAC Capital pretty much cleared […]

    / Jan 16, 2007 at 10:10 AM
  • Amaranth, Citadel, Hedge Funds, JPMorganChase

    Turning Amaranth Lead Into Gold For JPMorgan and Citadel

    Today’s edition of Platt’s Energy Trader takes in depth look at how Citadel and JPMorgan took over Amaranth’s energy portfolio, turning Amaranth’s losses into profit. The basic outline of the story is that after gas prices sank and the spread between March 2007 and April 2007 natural gas futures shrank, Amaranth found itself in the […]

    / Dec 7, 2006 at 4:22 PM
  • Citadel

    Citadel Sells $500M Of Those Medium Term Notes

    Well. That certainly didn’t take long. Citadel sold the first batch of notes on its debt offering, pulling in $500 million, according to a source cited by Bloomberg. Damn it must feel good to be Ken Griffin. Citadel Investment Group LLC, the hedge fund controlled by Kenneth Griffin, sold $500 million of five-year notes today […]

    / Dec 7, 2006 at 2:06 PM
  • Amaranth, Citadel, Hedge Funds, JPMorganChase

    How Much Did JPMorgan Make From Amaranth?

    JPMorgan may have hauled in as much as $750 million from the trades it took over from Amaranth, according to a story in Investment Dealers’ Digest. That’s pretty good for a position JPMorgan held for just a few weeks before handing it off to Citadel. But even more importantly, the IDD story provides the outlines […]

    / Dec 4, 2006 at 3:12 PM
  • Amaranth, Citadel, Hedge Funds

    Amaranth Deal Approved At Highest Levels Of Citadel

    Citadel’s acquisition of Amaranth’s energy portfolio was approved by the Chicago-based hedge fund’s founder Ken Griffin himself. Speaking to a group of potential investors on a conference call this afternoon, the Griff revealed that he personally approved the transaction in which Citadel and JPMorgan teamed up to acquire the energy portfolio that had resulted in […]

    / Dec 1, 2006 at 12:44 PM
  • Citadel, Hedge Funds

    Citadel Will Soon Know Everything

    Wow. Did the hedge funds who handed data over to the PlusFunds group not have some sort of confidentiality agreement in place? Buying the database versus giving up your trading strategy to the database. It’s like a contest between genius and genius in reverse. Citadel Investment Group LLC, one of the U.S.’s largest hedge-fund groups, […]

    / Nov 29, 2006 at 12:35 PM
  • Citadel

    Citadel: The Anti-LTCM?

    With the medium-erm debt issuance announced yesterday, Citadel may be on it’s way to becoming the anti-Long Term Capital Management—a hedge fund that can increase its leverage without incurring margin call risk if it’s investments go south. LTCM ran into trouble when its investment strategy blew-up and it became clear it wouldn’t be able to […]

    / Nov 29, 2006 at 11:30 AM
  • Citadel

    Shorting the Citadel Bonds?

    We hear that news of Citadel’s debt offering has sparked the idea around some trading floors that it might not be a bad idea to short the bonds. Since this is the first time a hedge fund has issued public debt of this sort, everyone is still feeling their way through this. But the general […]

    / Nov 29, 2006 at 9:28 AM
  • Citadel

    Those Citadel Bonds

    There’s been talk for months now about Citadel raising money from the capital markets—much of it centered on rumors that Citadel might go public with an initial public offering of stock, much like Fortress Investment group did earlier this month. But Citadel bigs constantly downplayed the possibility, and lots of folks thought that Citadel might […]

    / Nov 28, 2006 at 4:17 PM
  • Citadel, Hedge Funds, rumors

    Hedge Fund Rumors: Citadel Tell WSJ “It Ain’t Us”

    From the Wall Street Journal‘s MarketBeat column: Citadel Investment Group LLC, the $12 billion Chicago hedge fund, says it continues to enjoy a successful year and isn’t suffering from big energy bets gone bad — despite speculation coursing through financial markets today that the firm is dealing with heavy losses. “We are aware of the […]

    / Nov 17, 2006 at 3:03 PM
  • art, Citadel, Hedge Funds, SAC Capital

    Hedge Funds vs. Art, Round Whatever

    A few years ago we felt like a sophisticated, cultured high-roller when we flew out to Chicago for a weekend to catch a well-reviewed special exhibit at the Chicago Art institute. At least, that was the impression we were hoping to leave on the pretty young woman we flew out with us. And it kind […]

    / Oct 13, 2006 at 10:21 AM
  • Amaranth, Citadel, Hedge Funds, JPMorganChase

    Citadel and JP Morgan Chase Take Amaranth Energy Assets

    Amaranth is out of the energy trading business all together (at least for now), according to CNBC’s David Faber. Its entire energy portfolio has been off-loaded to Citadel and JP Morgan Chase, Faber reported moments ago. Those assets are even now most likely working their way into the broader markets. No word on whether Brian […]

    / Sep 20, 2006 at 1:30 PM

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