Citadel Closes Fund of Fund, Reallocates Capital

Citadel Alternative Asset Management, a unit of Chicago-based Citadel Investment Group, will close a $1 billion hedge fund of funds and reallocate its assets to invest in early-stage hedge funds. The move comes a week after Citadel denied rumors that federal regulators were combing its account for losses. (Pensions & Investments, Bloomberg)

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• Citadel Declines 26%, Moves To Dispel Rumors