Griffin Sets Citadel Securities on IPO Path With Tech Backers
- First outside investment gives firm $22 billion valuation
- Sequoia partner Alfred Lin to join Citadel Securities board
Ken Griffin speaks virtually during a House Financial Services Committee hearing.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Citadel Securities LLC, the trading powerhouse founded by Ken Griffin, is partnering with two Silicon Valley investors in a deal that values the firm at $22 billion and underscores its growing clout in world markets.
The move, announced Tuesday, pairs a huge -- and, at times, controversial -- piece of the billionaire’s financial empire with big names in technology and cryptocurrencies, Sequoia Capital and Paradigm, which are making the first outside investment in Griffin’s business.