New Jersey investors may have heard that the founder of the well-known hedge fund Citadel LLC has filed for divorce, though it is unclear whether this will impact the firm directly. Billionaire Kenneth C. Griffin filed divorce papers on July 23, citing irreconcilable differences as his reason for ending his marriage to 43-year-old Anne Dias Griffin. She had founded her own hedge fund, Aragon Global Management LLC, in 2001, but gave up her career eight years later to focus on her family and civic activities.
This was the second marriage for Kenneth Griffin, who got divorced from his first wife in 1996 and married Anne Griffin in 2003. The couple had a prenuptial agreement. Bloomberg Billionaires Index estimates his worth at $5.6 billion. Citadel is worth around $20 billion, but a source with knowledge of the situation said that the divorce should not impact the company’s finances. However, one of Kenneth Griffin’s attorneys declined the option to comment on whether his client’s wife could seek a portion of the firm’s assets.
An attorney for Anne Griffin said that his client had received no warning that the action was forthcoming and that the paperwork was filed right as she’d left to take the couple’s children on vacation, thereby ensuring that she did not have an opportunity to respond. The Griffins have three young children. Their father has asked for joint custody.
The end of a marriage is a time of significant changes, but it does not have to be a lengthy process. In many instances, each party will separately retain family law attorneys who are able to negotiate a comprehensive settlement agreement on behalf of their respective clients.
Source: Bloomberg, “Citadel’s Griffin Seeks Divorce After 11-Year Marriage“, Andrew Harris, Saijel Kishan and Katherine Burton, July 24, 2014