In 2018 Ken Griffin’s Citadel hired a group of scientists and analysts whose weather forecasts were more accurate than those of most meteorological offices. The recruitment of the 20-strong team was unusual for a big hedge fund in a sector largely focused on stocks, bonds and currencies. But it has been a key part of a push by Griffin’s $54b-in-assets firm to build out a wide-ranging commodities business encompassing both futures and physical trading.
“Citadel are very strong in gas and power,” said Pierre Andurand, founder of hedge fund Andurand Capital and one of the world’s top energy traders. “They do a lot of work on supply and demand. They take big bets and keep them for months.”
https://www.ft.com/content/d92e7f30-b4da-48b2-8fff-fd59fda751e1