Citadel Slams Door Shut On Residential Mortgage Fund

kengriffin tbi

That makes two in one week.

On Monday it was reported that the $11 billion hedge fund would sell its hedge fund administration business, Omnium.

Now Ken Griffin’s firm is shuttering one its residential mortgage funds after the portfolio manager in charge of it, Bill King, left, Bloomberg reports.

King left Citadel on March 7 after former BlackRock man Glenn Perillo was tapped as co-manager of the firm’s mortgage funds.

Because of redemption requests in the wake of King’s departure, Citadel decided to liquidate the $200 million mortgage fund, which returned an average of 9% since its 2010 inception, Bloomberg said.

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