Finance
Ex-Citadel Duo Raise $1.85 Billion for Hedge Fund
- The pair exceeded their target of $1.7 billion for the fund
- Hedge fund start defies tough capital raising environment
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Former Citadel traders Jonas Diedrich and Dave Sutton have exceeded the capital raise target for their hedge fund, making it the biggest startup of the year.
London-based Ilex Capital Partners started trading with client assets of $1.85 billion on July 1, according to a person familiar with the matter. The firm is in the process of adding a couple of hundred million more in capital this month and will stop accepting money on Aug. 1, the person said, asking not to be identified because the details are private.