Griffin's Citadel Said to Build Up Distressed-Debt Investing
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Ken Griffin’s $25 billion hedge fund Citadel LLC is building a team that wagers on the debt of distressed borrowers just as the number of companies reeling under the weight of such obligations has soared to levels last seen during the aftermath of the 2008 financial crisis, according to people familiar with the matter.
The investment firm has hired Alex Shayevsky, who was with JPMorgan Chase & Co., and Matt Kaplan from Imperial Capital, the people said, asking not to be identified as the information isn’t public. Barrett Eynon joined in February to lead the group after having been head of fixed-income at Pentwater Capital Management. Zia Ahmed, a spokesman for Citadel, declined to comment.