Nancy L. Sponseller

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Billionaire investor files divorce papers, seeks joint custody

On behalf of Law Office of Nancy L. Sponseller posted on Tuesday, July 29, 2014.

Ohio couples who are facing a high-asset divorce may be interested in the story of one hedge fund billionaire who is splitting with his wife of over a decade. Reports indicate that a prenuptial agreement could possibly dictate many of the terms of the divorce.

Kenneth C. Griffin founded his Chicago-based hedge fund, Citadel LLC, in 1990. His wife Anne founded her own investment firm, Aragon Global Management LLC, in 2001, and remains a managing partner at the Chicago firm. The couple married 11 years ago. In that time, they have both grown their businesses, though Anne reduced her role five years ago in order to focus on her family and philanthropy. Together, the couple established a foundation in their name in 2009, and they have been major donors to a Chicago medical center.

Kenneth has now filed for divorce after over a year of separation from his wife. The 45-year-old claims that there has been a breakdown of the marriage that cannot be restored. He is seeking joint custody of their three young children. The property division in this high-asset divorce will be governed by a prenuptial agreement signed in 2003. Kenneth is reportedly worth $5.6 billion, and media sources say that the split will not require any payment from the Citadel fund, valued at $20 billion. This is the second marriage for Kenneth, who split from his first wife in 1996.

Property division is just one of the many divorce legal issues that can crop up, particularly in acontested divorce. Questions of child custody and spousal support may require the assistance of an attorney with experience in family law. The attorney may be able to negotiate a fair settlement on behalf of one party and draft the necessary agreements.

Source: Bloomberg, “Citadel’s Griffin Seeks Divorce After 11-Year Marriage“, Andrew Harris, Saijel Kishan and Katherine Burton, July 24, 2014