Citadel Closes Out 2023 With 15.3% Gains; Millennium Up 10%
Bloomberg
2024/1/4
Ken Griffin’s Citadel posted a 15.3% return in its main Wellington hedge fund last year, a person with knowledge of the matter said, beating some of its peers as money managers grappled with a challenging 2023.
Izzy Englander’s $61 billion firm Millennium Management gained about 10%, another person said, improving from low single-digit returns in the early part of the year. Eisler Capital, a London-based multi-strategy hedge fund, gained 9.8%. The people asked not to be identified because the details are private. Representatives for Citadel, Millennium and Eisler declined to comment.
Unlike in 2022 when many of the industry’s biggest firms boasted strong double-digit gains, multi-strategy funds rose just 4.9% last year through November on average, according to PivotalPath.
Last year was marked by a volatile trading environment as major central banks cranked up interest rates and a few US regional lenders including Silicon Valley Bank collapsed. Israel’s war on Hamas in Gaza and the ongoing conflict between Russia and Ukraine added to market nerves.
Here are some full-year returns for hedge funds:
| Fund | 2023 returns (%) |
|---|---|
| Discovery Capital | 48 |
| Barnegat | 22 |
| CastleKnight Master Fund | 16.3 |
| Citadel Wellington | 15.3 |
| Citadel Tactical Trading | 14.8 |
| Citadel Equities | 11.6 |
| Citadel Global Fixed Income | 10.9 |
| KL Special Opportunities | 10.5 |
| Millennium | 10 |
| Eisler | 9.8 |
| D.E. Shaw Composite | 9.6 |
| D.E. Shaw Oculus | 7.8 |
| Source: Bloomberg reporting |
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