Griffin says Citadel open to selling minority stake - reports

Citadel, the hedge fund giant with $65 billion in assets, may potentially sell a minority stake in the future, according to founder Ken Griffin. In a recent interview at the Economic Club of New York, Griffin expressed openness to the idea, recalling a past transaction where Sequoia Capital acquired a portion of Citadel Securities, a separate entity within his business empire. Bloomberg News and Reuters first reported on the development.

Two years ago, Sequoia Capital invested $1.15 billion in Citadel Securities, a market-making firm, which was then valued at $22 billion. Recently, a private equity firm extended a $5 billion investment offer to Citadel Securities, which Griffin noted would support the company's goal to remain privately held. He did not disclose whether the offer was accepted but remarked on the need to improve the attractiveness of public markets in the United States.

Griffin has dismissed the idea of an initial public offering (IPO) for Citadel Securities, stating that it will not happen in the "foreseeable future." He emphasized the importance of having a partner like Sequoia, which has contributed valuable insights and challenged the leadership team to enhance the firm's operations.

This openness to strategic partnerships reflects a broader consideration of growth and management strategies within Citadel. However, Griffin's comments did not confirm any immediate plans to sell a stake nor specify potential partners or terms for such an agreement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com