Chicago-based Citadel Investment Group, headed by billionaire hedge fund manager Ken Griffin, has upped its stake in QLogic Corp.
Citadel now owns 5% of the Aliso Viejo-based networking-equipment maker, according to a filing last week with the Securities & Exchange Commission.
That’s up from a 3.15% stake at the end of the 2012.
Citadel now controls 4.6 million shares of QLogic, which makes electronics such as switches and adapter cards that speed up the flow of data on corporate storage networks.
Citadel is among the world’s largest hedge funds, with an estimated $14 billion under management, according to Crain’s Chicago Business.
The increased stake in QLogic is the second major investment a hedge fund has taken in OC’s networking equipment sector in recent months.
Late last year the Business Journal reported New York-based Elliott Management Corp. boosted its stake past 11% in QLogic rival Emulex Corp., becoming the Costa Mesa-based company’s largest investor (see related story, Interns, page 1).
—Chris Casacchia
