Citadel buys most of Situational Awareness’ public equities, shrinking assets

Ken Griffin’s Citadel steps in to acquire the majority of Situational Awareness’s public equities holdings, according to reports about the hedge fund run by Leopold Aschenbrenner. Business Insider says the deal involves Citadel buying a majority stake in Situational Awareness’s publicly traded equities book, while the sale does not include Situational Awareness’s private holdings. Financial Post reports that the move results in Situational Awareness’s assets falling to about $10 billion. Together, the accounts describe a restructuring in which Citadel takes control of most of the fund’s public stock exposure, leaving Situational Awareness with remaining investments—specifically its private holdings—after the transaction. The reports also indicate the size of the change: the fund’s asset base declines sharply following the sale of much of its public equity portfolio to Citadel. No additional terms of the transaction are provided in the excerpts.