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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Ken Griffin Bumps Stake in SPAC by 1,300% Days Before SEC Approved Its Merger With Nuclear Plant Developer

Griffin's Citadel is one of the most successful hedge funds in the world. (Credit: Citadel)

Billionaire investor Kenneth Griffin leads one of the most successful hedge funds in the world. As the founder and CEO of Citadel Advisors, Griffin is widely known for his open-mindedness to diverse asset classes and love for math, evident from his quantitative investing approach, which helped Citadel generate over $74 billion (£54.7 billion) in net gains since its inception in 1990.

In his latest trade, Griffin purchased nearly 1 million shares of HCM II Acquisition (Nasdaq:HOND) on 23rd September, just before the special-purpose acquisition company (SPAC) received approval from the US Securities and Exchange Commission on 26th September for the merger with Terrestrial Energy.

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