The billionaire Republican megadonor and Citadel CEO Ken Griffin has expressed openness to selling a minority stake in the $65 billion hedge fund he established in 1990.
What Happened: Griffin has previously sold stakes in his ventures. Two years ago, Sequoia Capital acquired a stake in Citadel Securities for $1.15 billion, valuing the market maker at $22 billion. Recently, Citadel Securities received a $5 billion investment offer from a private equity firm, which Griffin mentioned would help the company remain private longer.
In an interview with Bloomberg on Thursday at the Economic Club of New York, Griffin stated, “We would be open to the possibility of selling a minority stake in Citadel at some point in the future.”
Griffin highlighted the challenges of public capital markets, stating, “We need to make being public in the United States a much more attractive proposition.”
Despite the offer, Griffin did not confirm acceptance and ruled out taking Citadel Securities public soon. When considering potential partners, Griffin seeks firms similar to Sequoia that can enhance Citadel’s business operations.
Why It Matters: Griffin, a prominent figure in the financial world, has built Citadel into a powerhouse with over $65 billion in assets. As a mega-donor to the Republican Party, he recently voiced concerns over Donald Trump‘s tariff policies, warning they could hinder U.S. competitiveness.
In the past year, Citadel has achieved remarkable financial success, returning $7 billion to clients after a 30% profit surge. Citadel’s multistrategy fund, Wellington, has gained nearly 15% year-to-date, making it one of the top-performing hedge funds.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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