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16 Oct 2006

Hedge Fund Billionaire Couple donate $19 Million to the Arts

Kenneth C. Griffin, president and CEO of Citadel Investment Group, one of the world’s largest hedge funds and his wife Anne Dias Griffin, founder of hedge fund Aragon Global Management, donated $19 million to the Art Institute of Chicago late last week.

James Cuno, president of the Institute said the wing will be named the “Kenneth and Anne Griffin Court.” The Modern Wing’s central court, scheduled to open in 2009, is expected to cost $260 million.

The Griffins have collections of modern art, and have been known to loan them out to museums and exhibitions.

Citadel Investment Group is a $12 billion Chicago-based hedge fund. The alternative investment firm is known for its daily trading volume, which amounts to 1 to 2% of daily trading activity in New York and Tokyo. Citadel was founded by Kenneth Griffin in 1990.

Anne Dias Griffin is managing partner and founder of the firm Aragon Global Management, a long/short hedge fund focusing on global equities.

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