Posted January 12, 2022, 10:16 AMUpdated January 12, 2022, 6:18 PM
Twenty years after its creation, Citadel Securities, the largest American trader, opened its capital for the first time. Wall Street’s trading leader welcomes private equity fund Sequoia but also Paradigm. This venture capital company, co-founded by Fred Ehrsam, a former Goldman Sachs trader also behind the creation of Coinbase, specializes in the crypto sector. Sequoia Capital and Paradigm are injecting $1.15 billion between them to take a minority stake, about 5% of the capital, according to Bloomberg.
Citadel Securities is majority owned by Ken Griffin (80% of the capital prior to this operation according to Bloomberg). It is independent from the hedge fund Citadel, which he founded in 1990 while still a student at Harvard. His hedge fund finished a very good year with its main multi-strategy fund up more than 26%.