Skip to main content

Citadel IPO?

  • Author:
  • Updated:

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, just before it went public, hints at Kenny’s intent to have his papers in order before diving into the public markets. If Citadel were going to stay private, hiring Andrews, whose expertise is in dealing with a wide range of public market investors would be kind of pointless. Some skeptismos said they would find an IPO hard to believe, given the recent turmoil in the credit markets. We hadn’t heard anything else in a while, mostly because we weren’t listening, but today we were told that at a dinner last night where Griffin was in attendance, a friend o' DealBreaker said that the manager “harped exclusively on taxation of public partnerships” and was “quite insistent that the "Blackstone bill" is a bad idea," making the FoD, "even more confident he's planning to IPO a piece of Citadel.” (Another DealBreaker reader-cum-dinner guest shared the less illuminating but more amusing tidbit that Griffin “tried- and failed miserably- to do that trick where you pull the table cloth off the table without moving any of the plates or silverware. The whole thing was really embarassing but it's not like you could do anything but try and stifle the laughter, 'cause he's Ken Griffin, you know?”) Anyway-- signs point to IPO or just good Samaritan Griffin trying to protect the $45 billion crab legs of private-then-public rich guys everywhere, himself not included? You decide.
Citadel takes a step toward going public [Fortune]