Citadel among funds getting hit by crisis

In many ways, Kenneth Griffin would appear to be type-cast as a hedge fund manager. He's made billions. He bought a Cezanne for $60 million. He was married at Versailles. But there is nothing ordinary about the way he built Citadel into a hedge fund power. Now, even Griffin is getting walloped by the credit crisis. His firm's two main investment funds are down 20 percent this year, reports the New York Times. The past few weeks have been especially hard." Now, the clock is ticking...If his funds close down for the year, Citadel will not earn its 20 percent profit fee," according to the article. Griffin's hopes of taking his company public seem distant. As did his claim that his firm might someday rival Goldman Sachs. Certainly, the firm is not alone in its pain. But that is cold comfort right now. By the way, he's scheduled to testify in Congress next week, which should be interesting.

For more:
- here's the article

Related Articles:
Hedge fund losses continue in September
Citadel wants to raise a massive fund