Citadel Picks Dallas For Third Seeding Office

Sep 16 2010 | 1:43pm ET

Citadel Investment Group is opening not one, but two new hedge fund incubation offices.

In addition to its new seeding station in Boston—and its existing PioneerPath Capital incubator in New York—Citadel is opening such an office in Dallas, Reuters reports. Like the Boston venture, which has already hired three managers, the Dallas office will seed promising managers with Citadel’s own capital and give them two years to build a track record.

The Boston seeding office was first reported by the Boston Globe.

The two new offices give Citadel, which manages US$11 billion, a total of seven offices around the world, including its Chicago headquarters. In addition to New York, the firm also has bases in Hong Kong, London and San Francisco.

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