Citadel's planned debt offering apparently is well on its way to success. The hedge fund firm had originally planned to raise about $500 million from its eye-catching bond offering, but demand has been stronger than expected. It lifted its target to $1 billion. That's good news for lead managers Goldman Sachs and Lehman Brothers. Recall that Citadel is thought to be the first hedge fund firm to raise capital via the debt markets. There are some obvious advantages, one of which seems to be that bond investors are warm to the concept, even when the issuer was recently forced to battle rumors of big losses in an energy fund. All this raises the likelihood that other hedge funds might try to tap the same well. Any guesses?

For more:
- here's an update from Financial News