Citadel Advisors LLC (“Citadel Advisors”) is a Delaware limited liability company and has its
principal place of business in Miami, Florida. Citadel Advisors and its predecessors have been in
the investment advisory business since 1990. Citadel Advisors manages private investment funds
offered exclusively to sophisticated investors, in certain cases with assistance from its affiliates
Citadel Advisors Europe Limited (“Citadel Europe”), Citadel Asia Limited (“Citadel Asia”),
Citadel France SAS (“Citadel France”), and Citadel Advisors Singapore Pte. Limited (“Citadel
Singapore” and, together with Citadel Advisors, Citadel Europe, Citadel Asia, and Citadel France,
the “Advisers”). The Advisers are affiliated advisers organized as separate legal entities
conducting a single advisory business. As such, the Advisers are permitted to satisfy their
obligation to register with the SEC through filing of a single Form ADV by Citadel Advisors, with
Citadel Europe, Citadel Asia, Citadel France, and Citadel Singapore as relying advisers. The
private investment funds managed by the Advisers generally invest their assets directly or
indirectly in other private investment funds (referred to as the “sub-funds”), which are also
managed by the Advisers and through which the Advisers pursue their investment strategies. In
this Brochure, each of the private investment funds managed by the Advisers, and the sub-funds
in which they invest, are generally referred to as a “Fund,” and are generally referred to collectively
as the “Funds.”
As of December 31, 2023, the Advisers had approximately $55,151,401,000 of assets under
management, all of which was managed on a discretionary basis.
Citadel Advisors is wholly owned by Citadel Advisors Holdings LP. Citadel Europe is wholly
owned by Citadel Americas LLC. Citadel Asia, Citadel France
and Citadel Singapore are each
wholly owned by Citadel Hedge Fund Holdings II LP. The Advisers are indirectly controlled by
Citadel GP LLC or its related persons and use the investment personnel, infrastructure and support
provided by Citadel Americas LLC and Citadel Americas Services LLC and their affiliates. Citadel
GP LLC and Citadel Americas LLC and Citadel Americas Services LLC are controlled by Kenneth
Griffin, their Founder, Chief Executive Officer and Co-Chief Investment Officer.
The Advisers are members of a group of affiliated entities that together comprise a leading global
financial institution with a diverse business platform (collectively, the “Citadel Parties”), which
includes two separate and distinct units: (i) a global investment firm (“Citadel”) and (ii) a global
market maker (“Citadel Securities”).
The Advisers have discretion with respect to investment decisions they make for the Funds, and
also with respect to the selection of brokers, dealers and other counterparties for such transactions,
and the amount of commissions or other compensation to be paid by the Funds. The Advisers
provide investment advisory services to the Funds based on the particular investment objectives
and strategies described in the applicable Fund’s Offering Documents (defined below).
All discussions of the Funds in this Brochure, including but not limited to their investments,
the investment strategies used in managing the Funds, the fees and other costs associated
with an investment in the Funds, and conflicts of interest faced by the Advisers in connection
with their management of the Funds, are qualified in their entirety by reference to each
Fund’s respective confidential offering memorandum (if any) and governing documents
(referred to collectively as the “Offering Documents”).