At the end of last year, Citadel Investment Group received redemption requests for more than 3% of its assets, a condition that would have allowed the $12 billion hedge fund firm to begin imposing longstanding withdrawal penalties. The exact percentage of assets requested by investors is not known, but it is understood to be decidedly less than 10%.
One investor did in fact opt to pay a fee to withdraw funds. But at the end of the day, not a single investor actually paid the liquidity penalty, according to a Citadel spokesman.
Since 1998, Citadel has required investors to