Griffin's Citadel To Lift 17-Manager Visium Team For New Equity Unit

Jul 21 2016 | 11:41pm ET

Kenneth Griffin’s hedge fund Citadel will hire 17 portfolio managers from beleaguered Visium Asset Management in a move that mirrors past steps to gather top staff from struggling rivals. 

Wracked by an insider trading probe and other investigations by federal authorities, Visium announced it would liquidate its flagship Balanced fund and sell its Global fund to AllianceBernstein – a deal that has reportedly since been torpedoed by the Citadel move, according to an article in The Wall Street Journal

The former Visium group will join Citadel in early August and create the nucleus of Citadel’s newest equity group, named Aptigon and led by former Diamondback Capital executive Richard Schimel. Schimel recently came aboard Citadel with orders to form a new global, multi-sector equity team to staff the unit, and it was reportedly Schimel’s idea to explore picking up the Visium group. 

Aptigon will utilize a similar market-neutral approach as Citadel’s other equity units and support Citadel’s flagship Kensington and Wellington funds.

Chicago-based Citadel was founded by Griffin in 1990 with $4.6 million. He subsequently built it into a global alternative investment powerhouse that manages more than $24 billion in assets as of July 1, 2016.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...