Texas couples who are divorcing may be facing complex asset division, and the same is true of the founder of hedge fund firm Citadel LLC. Kenneth Griffin has filed for divorce from his wife of 11 years. Citing “irreconcilable differences” as the reason for their split, the filing stated the couple had been separated for a year. However, the attorney for Anne Dias Griffin says that she was not given timely notice of the filing. Kenneth Griffin has also asked for joint custody of the couple’s three children.
In 2001, Anne Griffin co-founded the investment firm Aragon Global Management and is currently a managing partner there. She is also credited as the impetus behind the couple’s extensive collection of art. The couple set up a charitable foundation in 2009.
Other assets include recent real estate purchases by Kenneth Griffin. In 2013, he bought two oceanfront properties in Florida for $79.6 million, and in 2012, he purchased a Chicago penthouse for $15 million.
There is speculation that as part of the prenuptial agreement the couple signed in 2003, Kenneth Griffin protected Citadel in case of a divorce. It is also possible that Anne Griffin may have agreed to waive any claim on Citadel assets in return for a cash settlement. However, prenuptial agreements may be challenged in court.
An individual with complex assets who is divorcing may wish to hire an attorney to handle negotiations with their spouse. This might be the case even if the divorce is amicable. An attorney might be better able to anticipate any potential pitfalls in the division of assets. Issues such as various types of support and child custody may be negotiated in or out of court.
Source: Bloomberg, “Citadel’s Griffin Seeks Divorce After 11-Year Marriage“, Andrew Harris, Saijel Kishan and Katherine Burton , July 24, 2014
