Hedge Funds

Citadel assets drop $500 million


Ken Griffin has yet to hit his high-water mark.

Going into what looks like a second year without hitting its high-water mark, Ken Griffin’s Citadel has lost another $500 million in assets since the start of the year due to a combination of redemptions and performance losses.

Despite posting a 62% gain last year in its flagship multistrategy hedge funds—Kensington and Wellington—the firm’s overall assets have continued to decline from its peak of $20 billion for July 1, 2008 to $11 billion as of July 1, 2010, according to data collected by AR. Both Kensington and Wellington had a rocky start to the year, posting negative returns