Citadel Denies Collapse Rumors

Oct 24 2008 | 1:57pm ET

Citadel Investment Group moved quickly to squelch rumors on Wall Street that the giant hedge fund was in serious trouble.

“Categorically false,” a spokeswoman for the Chicago firm told the Wall Street blog Dealbreaker. “Citadel continues to invest and operate business as usual across the globe. The firm’s liquidity remains strong with more than 30% of investment capital held in cash.”

According to the rumors, both the Federal Reserve and U.K. Financial Services Authority were in Citadel’s offices today, discussing how to handle the collapse of the $20 billion alternative investments giant. The Citadel spokeswoman also denied that the firm was seeking access to the Fed’s discount window.

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