Thursday, November 30, 2006 Citadel Says Hedge-Fund Profit Rose Fivefold in 2006

"Citadel Investment Group LLC, the hedge-fund manager founded by Kenneth Griffin, said earnings at its two largest funds increased more than fivefold on gains from debt and energy investments.
Net income at Citadel Kensington Global Strategies Fund Ltd. rose to $795.6 million in the first eight months of 2006 from $148.4 million in the year-earlier period, the Chicago-based firm told investors this week in a prospectus for its first bond sale. The fund, which has $9.5 billion in assets, had an investment return of 7 percent in the third quarter, compared with 3.1 percent a year earlier, when its corporate-debt and energy bets lost money. "

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