Ken Griffin's Citadel to return about $7 billion in profit to investors -source

(Reuters) - Billionaire Ken Griffin's Citadel is planning to give back about $7 billion in profits to investors after a year of double-digit returns, a source familiar with the matter said on Tuesday.Its flagship multi-strategy Wellington fund returned 14.8% this year through November, a second source said.Last year, Citadel also returned roughly $7 billion in profits to its investors after posting gains of over 30%. Griffin's firm usually hands back money to clients as a way to keep its size compatible with the investment opportunities it sees on the horizon.Citadel, which will start 2024 with $58 billion in assets under management, has outperformed many of its peers in recent year.Israel Englander's Millennium Management is up 9.7% in the first nine months of 2023, one of the sources said. The hedge fund declined to comment on the matter.On Tuesday, Griffin, the world's most successful hedge fund manager in terms of earnings, announced he and billionaire David Geffen donated $400 million to the Memorial Sloan Kettering Cancer Center. Griffin has donated over $2 billion to charity during his lifetime, to causes from education to COVID-19 vaccines.(Reporting by Carolina Mandl in New York and Pritam Biswas in Bengaluru; Editing by Anil D'Silva)