Posted on

Citadel to Redeem $500 Million From Melvin Capital



Share

The hedge fund Citadel pumped billions of dollars into Melvin Capital after that fund’s bet against GameStop went bad, leading to huge losses. Now, Citadel is taking some of its money back.Citadel has notified Melvin of its plans to retrieve $500 million of the $2 billion it injected in late January, according to two people briefed on the matter, who were not authorized to speak publicly about it. Under the terms of Citadel’s investment, the money will be returned at the end of September, the people said, as the third quarter draws to a close.Citadel’s plan was …

Read More