Citadel Assumes Control of Majority of Sowood Capital Positions

CHICAGO--(BUSINESS WIRE)--Citadel Investment Group, L.L.C., one of the world’s leading financial institutions focused on alternative asset management strategies, today announced it has reached agreement to assume Sowood Capital’s Credit Portfolio.

Kenneth Griffin, Citadel’s President and CEO commented on the transaction, “Our ability to use our capital to consummate this transaction with Sowood exemplifies the strength of our organization. This transaction provides for an orderly transference of risk between the parties, and I am proud of our team's ability to execute this transaction in a timely fashion. Moreover, we appreciate the professional manner in which the Sowood team handled this complex transaction from start to finish.”

About Citadel Investment Group

Citadel is one of the world’s leading financial institutions focused on alternative asset management strategies. The Citadel group of companies employ over 1,000 professionals at headquarters in Chicago and across its offices around the world, including New York, San Francisco, London, Hong Kong and Tokyo.