Billionaire financiers such as Ken Griffin pioneered what’s known as the multi-manager model for hedge funds, where big spending begets big returns. In 2022, Griffin’s Citadel became the best-performing hedge fund of all time. But now, cracks in the sector are beginning to form. The FT’s Harriet Agnew and Ortenca Aliaj examine what a downturn could mean for investors and the broader financial sector.

Plus, do you have a question about markets, finance or economics? Get in touch with Michela, and we may use it in an upcoming joint show with Unhedged.

Email Michela at michela.tindera@ft.com, or message her on X at @mtindera07.

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For further reading:

Are hedge fund pioneers facing the end of a golden era?

Bobby Jain’s hedge fund launch falls short of $8bn-$10bn target

How Ken Griffin rebuilt Citadel’s ramparts

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On X, follow Harriet Agnew (@HarrietAgnew), Ortenca Aliaj (@OrtencaAl) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

Read a transcript of this episode on FT.com

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Hedge fund pioneers face signs of a reckoning

Behind the Money