Hedge fund Citadel would consider IPO: report

NEW YORK (Reuters) - Hedge fund Citadel Investment Group would consider an initial public offering, possibly this year, according to a story in the latest issue of BusinessWeek dated January 14.

The $20-billion fund founded in 1990 by Kenneth Griffin as an undergraduate, produced gains of over 30 percent last year compared with 12 percent for the average fund, said BusinessWeek.

Citadel Chief Financial Officer Gerald Beeson told BusinessWeek recently, "An IPO is something we'd consider. It would be a byproduct of our wanting to expand our firm to create an even more diverse and permanent institution."

BusinessWeek also cited people familiar with Citadel saying Griffin is likely to "take the plunge this year" and go public.

Officials at Citadel couldn't be reached immediately for comment.

(Reporting by Yinka Adegoke, editing by Carol Bishopric)