Citadel, the hedge fund firm founded by billionaire investor Ken Griffin, is planning to return about $7 billion in profits to investors in the first week of the New Year after generating bumper returns in 2022, according to a report by Reuters.

Citadel, the hedge fund firm founded by billionaire investor Ken Griffin, is planning to return about $7 billion in profits to investors in the first week of the New Year after generating bumper returns in 2022, according to a report by Reuters.

An investor note sent earlier this month revealed that Citadel's flagship Wellington Fund was up around 32% as of the end of November, paving the way for the $59 billion hedge fund firm to make the record annual profits payment to investors.

The report cites an unnamed source as revealing that the planned January payment comes on top of $11 billion in profits returned to Citadel investors over the past five years in line with the firms focus on performance rather than capital growth.