Ken Griffin Ramps Up Credit Bets, Anticipating US Recession
- Citadel’s flagship hedge fund gained 6.1% through May
- Griffin expects China GDP to grow more than 5% this year
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Ken Griffin, whose hedge fund churned out a record $16 billion for clients last year, is increasing his focus on credit trading as he braces for a potential US recession.
“We’re much more cautious about 2024,” the billionaire founder of Citadel said in an interview in Hong Kong, adding that the world’s largest economy is unlikely to avoid a downturn that year. “We’ll look at the credit markets as a source of opportunity. Credit should be a meaningful contributor later this year” and next for Citadel, he said.