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April 18, 2024
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Citadel’s Ken Griffin Tops List of Biggest Hedge Fund Moneymakers Ever


It’s good to be Ken Griffin.

The founder and CEO of Citadel, who began investing as a freshman at Harvard in 1986, ranks No. 1 among hedge fund mangers for the biggest cumulative net profit since his firm opened, according to data from LCH Investments.

Citadel, a Miami-based multistrategy hedge-fund firm, led the list with a $74 billion net…

It’s good to be Ken Griffin.

The founder and CEO of Citadel, who began investing as a freshman at Harvard in 1986, ranks No. 1 among hedge fund mangers for the biggest cumulative net profit since his firm opened, according to data from LCH Investments.

Citadel, a Miami-based multistrategy hedge-fund firm, led the list with a $74 billion net gain for its investors since inception in 1990 through 2023. It racked up an $8.1 billion profit last year. Investors in its flagship Wellington fund scored an annual gain of 15.3%, after fees, according to people who have seen the numbers.

“A significant component of the gains of the top 20 managers have been made by the large multistrategy, multiportfolio firms,” LCH Chairman Rick Sopher said in a statement. “These firms are clearly also able to pay more aggressively to attract the best talent.”

The top 20 managers made $67 billion net of fees for their investors last year. LCH Investments is a fund of funds.

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Tied for second in the LCH ranking were DE Shaw and Millennium, which both made about $56.1 billion in total gains since inception. Bridgewater Associates, founded by Ray Dalio, was in fourth place at $55.8 billion.

Stockpicker Christopher Hohn’s TCI had the largest gain of any hedge fund firm in 2023, at $12.9 billion. It is ranked seventh overall since inception.

Write to Tae Kim at tae.kim@barrons.com



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