Owner of hedge fund firm Citadel files for divorce
Individuals in Las Vegas who possess many assets and are considering divorce might find themselves in a similar situation to that of hedge fund firm owner Kenneth C. Griffin and his wife Anne Dias Griffin. Filing for divorce after 11 years, the couple owns numerous assets including an extensive art collection.
Although the couple signed a premarital agreement in 2003, they still have a complex marital estate. Citadel, Kenneth Griffin’s hedge fund, may be protected since Anne Griffin is not listed as an owner. Representatives of both individuals have declined to comment on whether she will seek any assets related to the company. Anne Griffin founded the investment fund Aragon Global Management LLC in 2001 where she is still a managing partner.
Division of other assets may be complicated. In 2009, the couple created the charitable Kenneth and Anne Griffin Foundation. Kenneth Griffin bought properties in Florida in 2013 worth nearly $80 million and a Chicago penthouse in 2012 for $15 million.
It is unclear whether the split will be amicable or not. Although Kenneth Griffin’s divorce filing says that the two have been separated for a year, Anne Griffin’s attorney says that neither he nor Griffin’s wife were given notice of the divorce filing. Kenneth Griffin has asked for joint custody of their children. His wife was away on vacation with them at the time of the filing.
The case illustrates the importance of a premarital agreement. Individuals should make prenuptial agreements some time before the wedding and make their provisions as explicit as possible to reduce the chances that the agreements can be successfully challenged. An attorney may be able to draft the necessary documents.
Source: Bloomberg, “Citadel’s Griffin Seeks Divorce After 11-Year Marriage“, ndrew Harris, Saijel Kishan and Katherine Burton, July 24, 2014