Ken Griffin’s Citadel outperformed several big name multi-strategy rivals, including Millennium Management and Eisler Capital, in a challenging 2023, chalking up a 15.3% return for its main Wellington hedge fund, according to a report by Reuters.

The report cites a person with knowledge of the matter, as revealing that Izzy Englander’s $61bn firm Millennium gained about 10%, improving from low single-digit returns seen in the early part of the year, while London-based Eisler Capital, gained 9.8%.

According to data from PivotalPath, while many of the industry’s biggest firms boasted strong double-digit gains in 2022, average gains for multi-strategy funds totalled just 4.9% in the 11 months to the end of November 2023.