Citadel LLC Founder Files for Divorce

Residents of Texas who are going through a high-asset divorce may be facing some issues similar to those of hedge fund firm owner Kenneth Griffin and his wife Anne Dias Griffin. Anne’s attorney alleges that she was not given notice of her husband’s recent divorce filing that cited irreconcilable differences as the reason for the separation. The two have a number of assets owned both separately and together.

The couple signed a prenuptial agreement in 2003, and it is presumed that Kenneth Griffin’s Chicago firm Citadel LLC is protected. However, Anne Griffin may still mount a claim. She is a founder and managing partner of the firm Aragon Global Management LLC and is said to be the force behind the couple’s reputation as top art collectors. The couple also formed a charitable foundation in 2009 known as the Kenneth and Anne Griffin Foundation.

In 2013, Kenneth Griffin purchased oceanfront property in Florida worth $79.6 million while in the previous year, he bought a penthouse in Chicago for $15 million. According to information given by the Bloomberg Billionaire’s Index, Griffin himself is worth approximately $5.6 billion.

The divorce litigation in this particular situation is likely to be complex. The two share three young children, and Kenneth Griffin has asked for joint custody in the filing.

Such a complicated division of assets can sometimes be negotiated through lawyers, but it may also require formal mediation or due process through the court if no agreement can be reached. A lawyer can discuss options with their client that best suit the future of their assets and the needs of their children.

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

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