Yahoo Finance Citadel, Millennium Extend Streak of Gains in First Half
(Bloomberg) --
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Ken Griffin’s Citadel and Izzy Englander’s Millennium Management extended their year-to-date gains in June, underlining their reputations for delivering steady returns.
Citadel posted an 8.1% return in its main Wellington hedge fund in the first half of the year, a person with knowledge of the matter said. Its Tactical Trading Fund climbed 2.3% in June, taking its 2024 gain to 13.7%, the person added.
Millennium gained 6.9% in the same period, another person said, asking not to be identified because the details are private.
The two multistrategy hedge fund firms were both among industry’s top performers in 2023, gains that are driving more and more demand for their funds. In 2023, Citadel’s Wellington fund rose 15.3% and Millennium returned about 10%. Multistrats rose just shy of 6% last year on average and are up this year by 5.2% through May, according to PivotalPath.
Millennium is planning to raise new capital equivalent to about 10% of its $68 billion of assets, Bloomberg reported last month. That will allow the New York-based firm to call the cash at will, and the capital will be invested in its longer-term share class, which takes five years to fully exit.
The Financial Times reported on this year’s returns earlier.
Spokespeople for the firms declined to comment.
--With assistance from Peter Eichenbaum.
(Updates with table.)
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