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Founder of Citadel LLC files for divorce

The founder of a major Chicago hedge firm has filed for divorce from his wife of 11 years. The divorce filing indicated that the couple is separating due to irreconcilable differences. The pair has three young children together.

Kenneth C. Griffin is the founder of Citadel LLC, a Chicago-based hedge fund reportedly worth approximately $20 billion. Citadel is carefully shielded from the effects of the divorce, and the property division phase is not intended to affect the corporation in any way. His wife, Anne Dias Griffin, is not listed as one of the owners of Citadel.

As with many high net worth divorces, there is additional scrutiny from the press and public. Griffin has a personal worth of $5.6 billion, and his wife holds a position as managing partner at Chicago's Aragon Global Management LLC. However, they have a premarital contract signed on July 18, 2003 that will govern the divorce agreement and all property settlements unless the wife chooses to contest it.

A legal representative maintained in a public statement that Griffin's wife was unprepared for the divorce filing despite the couple's approximate year-long separation; Griffin allegedly gave her no notice of his intentions. The representative asserts that he waited until she left for summer vacation with their three children before filing so as to give her no opportunity to respond.

Joint custody of the children has been asked for in proceedings. Such issues including substantial property, assets and art collection will likely be addressed in the case. The representation of an attorney might be helpful when negotiating property division and examining the legal viability of any pre- or postnuptial agreements.

Source: Bloomberg, "Citadel’s Griffin Seeks Divorce After 11-Year Marriage", Andrew Harris, Saijel Kishan and Katherine Burton, July 24, 2014

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