Saturday, 27 December 2014
Last updated 3 days ago
Mar 25 2011 | 1:03pm ET
Citadel Investment Group is selling its hedge fund administration business.
The Chicago hedge fund giant has agreed to sell Omnium to another Windy City firm, hedge fund administrator Northern Trust Corp., Dow Jones Newswires reports. Terms of the deal were not disclosed.
Citadel has been distancing itself from its administration unit since 2009, when it renamed the former Citadel Solutions. The name change was reportedly the result of unhappy clients, both Citadel's and Citadel Solutions'. The former's apparently didn't want their hedge fund investments administered by the hedge fund itself, and the latter's balked at plastering Citadel's name all over their own fund documents.
Omnium administers about $70 billion in assets, all for larger hedge funds with major technology needs. Northern Trust has about $97 billion in assets under administration.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.