Chicago Tribune- Despite market volatility, Citadel Investment Group LLC has gained 27 percent year to date in what’s shaping up to be the Chicago-based hedge fund’s second straight showing of double-digit returns.
In 2006, Citadel topped 30 percent, helped by energy bets after it took over some assets from Amaranth Advisors LLC, which imploded in September 2006.
That deal has continued to pay off in 2007, along with Citadel’s opportunistic purchase of distressed hedge-fund assets during last summer’s credit turmoil, according to a person familiar with Citadel’s results.
Citadel’s 27 percent return is “a very strong performance considering the volatility we’ve seen this year,” said Joel Schwab, managing director of Hedgefund.net, a gatherer of industry news and information.
