Ken Griffin’s Citadel Investment Group is opening a Dallas office to house portfolio managers in the firm’s two seeding platforms, Surveyor Capital and PioneerPath Capital. Griffin recently signed a deal to take over office space on the second floor of 300 Crescent Court.
Citadel will officially move into the 6,800-square-foot office in early June, a Citadel spokesperson said. The new digs feature high-quality furnishings and a view of the Federal Reserve and the Ritz-Carlton, said a hedge fund manager who is familiar with the space.
Citadel launched hedge fund incubator Surveyor earlier this year. Since then the firm has ramped up quickly, seeding 11 portfolio managers. Surveyor and the firm’s other hedge fund incubator, PioneerPath, launched in 2008, are headed by Jon Venetos and have so far been housed out of Citadel’s New York offices. The decision to open an office in Dallas comes after the firm hired two former technology stock analysts from Dallas’s Carlson Capital, Rob Semple and Kevin McCarthy, in March. The pair will work from the new office.
Surveyor has 10 long/short equity teams covering health care, technology, media and telecommunications, industrial stocks, energy and the financial services and consumer sectors. PioneerPath has 12 investment teams. Griffin allocates capital to the investment teams through his Kensington Global Strategies and Wellington multistrategy funds. The investment teams’ performance is then applied back to both funds.
The Chicago-based firm gained 62% last year in its Kensington and Wellington funds, but both funds were down around 0.80% through April. Citadel manages $12 billion in assets.
—Katrina Dean Allen
