Major hedge funds like Discovery Capital Management, Schonfeld and Citadel generated double digit returns in 2024.
Discovery provided the largest gain, posting a 52% rise, while Schonfeld’s Strategic Partners delivered a 19.7% increase and Citadel’s flagship Wellington fund rose by 15.1%.
Citadel founder Ken Griffin has said the fund will remain private in 2025. “We’re focused on building the business, on investing in our future. And we do believe that there are benefits to being private during this period of very, very rapid growth,” Griffin said in November.
Citadel’s Tactical and Equities funds rose by double digits last year, with growth of 22.3% and 18%, respectively.
The hedge fund had around US$66 billion in assets under management as of last month.
Schonfeld’s Fundamental Equity fund saw 21.1% gains in 2024.
This is a second consecutive year of high Discovery gains, as the firm also grew by 48% in 2023.
D.E. Shaw’s multi strategy Composite hedge fund advanced 18% last year while its Oculus macro fund gained 36%. The firm will reportedly return half of its 2024 profits from these funds to its clients.
Funds including Millennium Management, Balyasny Asset Management, and ExodusPoint also posted double digit gains last year.