Citadel Flagships Near Capacity, Closing

Oct 10 2013 | 12:03pm ET

Citadel Investment Group is set to close its flagship hedge funds—its only major funds currently accepting new money—to further investments.

The Chicago hedge fund giant's Kensington and Wellington funds have seen their combined assets under management surge by nearly half over the last two calendar years, bring them close to their capacity. Citadel is expected to close them to new money at that point, Financial News reports.

Turning away investors from Kensington and Wellington would cap a remarkable turnaround for the two funds, which lost more than half their value in 2008. The two funds crested their high-water marks at the beginning of last year, and went on to return 26% that year. They are up 14.3% this year.

According to FN, the funds have enjoyed inflows from institutional investors and sovereign wealth funds.

Citadel's three other main hedge funds are closed to new investment, although one of them, its global fixed-income fund, could reopen.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…