Citadel’s founder Ken Griffin mentioned Thursday that he can be open to promoting a small stake in his hedge fund sooner or later sooner or later.
Griffin, at an occasion hosted by the Financial Membership of New York, mentioned it made sense for him to promote a minority stake in his market maker Citadel Securities to Sequoia and Paradigm in 2022, in a deal that valued the agency at $22 billion.
His feedback come days after studies BlackRock is in talks with Citadel’s competitor Millennium for a potential tie-up, involving the acquisition of a minority stake within the hedge fund by the world’s largest asset supervisor.
“We take great pride in being in a private partnership. It has served us well for 30 years,” he mentioned when requested a possible consolidation within the hedge fund trade. Nonetheless, he mentioned he “would be open to the possibility of selling a minority stake in Citadel at some point in the future.”
When requested about what sort of associate he would interact with, he mentioned enterprise capital agency Sequoia can be an instance. “We would look for a partner that feels like Sequoia, that’s going to push us to be better at what we do.”
Griffin mentioned the give attention to Citadel Securities now could be on the expansion of the enterprise and that an preliminary public providing mustn’t occur “in the foreseeable future.”
