Citadel Technology Licensing Business Grows Quickly

May 23 2013 | 11:11am ET

Citadel Investment Group is among the most successful hedge funds in history, so it's little wonder that other firms are lining up to license its technology.

In September, Citadel put former ConvergEx RealTick CEO Stuart Breslow in charge of its Citadel Technology unit. And Breslow has proven quite a salesman, more than doubling the division's client base, which stood at just a handful prior to his arrival, Hedge Fund Alert reports.

Citadel Technology now boasts a mix of clients, including fund managers and institutional investors, who can access the technology either locally, by installing it, or by using it on the Internet. The systems support all asset classes and multiple prime broker relationships.

Citadel has been licensing its technology since 2009.

Citadel Technology, which operates independently of the firm's hedge fund business, currently employs 30 people.

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