Citadel Hedge Fund Gains 9% in Strong Multi-Strategy Year
- Millennium Management returned 5%; Hudson Bay was up 6.5%
- Big multi-strategy funds outperformed the hedge fund industry
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Big multi-strategy hedge funds found a way to make money in a tumultuous year when so many other firms floundered.
Ken Griffin’s Citadel, which runs more than $30 billion, rose 9.1 percent in its flagship Wellington hedge fund last year, and Izzy Englander’s $35 billion Millennium Management gained nearly 5 percent, according to people familiar with the matter. Hudson Bay Capital Management, which manages $3 billion, returned 6.5 percent, another person said.