Bloomberg News

Citadel’s Griffin Buys Florida Property for $79.6 Million

January 05, 2013

Kenneth Griffin, the billionaire founder of hedge fund Citadel LLC, bought two adjacent oceanfront properties in Palm Beach, Florida, for $79.6 million, his second luxury residential deal in less than two months.

Griffin purchased 40 and 50 Blossom Way in Palm Beach through an affiliated company, said a person with knowledge with the deal who asked not to be named because the details are private. An entity called PBH LLC bought 50 Blossom Way for $37.95 million and the neighboring vacant parcel for $41.65 million on Dec. 27, according to the county clerk’s office.

A 14,354-square-foot (1,334-square-meter) house sits on 50 Blossom Way, according to the Palm Beach Daily News, which reported earlier this week that the properties had sold.

Griffin, 44, in November paid $15 million for a 7,900- square-foot penthouse at Park Tower in Chicago, where Citadel is based. The purchase set a record for a condominium in the city, according to the Chicago Tribune. A spokeswoman for Griffin declined yesterday to comment on his purchases.

Citadel outperformed last year, rising 21 percent through November in its main Kensington and Wellington funds, a person familiar with the matter said last month.

To contact the reporter on this story: Prashant Gopal in Boston at pgopal2@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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