Citadel had record revenues for hedge fund, securities ops in 2022

© Reuters. Kenneth Griffin, CEO of Citadel, is seen in a framegrab from live video as he testifies about stock trading and GameStop, during an entirely virtual hearing of the U.S. House of Representatives Committee on Financial Services entitled “Game Stopped? Who

(Reuters) -Kenneth Griffin’s Citadel marked record revenues in its hedge fund and electronic-trading businesses for 2022 despite turmoil in global capital markets, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The hedge fund operation made about $28 billion in revenue, while Citadel Securities, one of the world’s biggest electronic-trading firms, brought in $7.5 billion, the report added.

Citadel did not immediately respond to a Reuters request for comment on the matter.

The hedge fund was also expected to return about $7 billion in profits to investors in the first week of January after a stellar performance last year, a source familiar with the matter had told Reuters in December.

Fears of interest rate hikes and the Russia-Ukraine war weighed on capital markets throughout 2022, leaving the benchmark down about 19%, but hedge funds have weathered the downturn better than other financial firms.