Citadel Investment Group will launch a leveraged finance group in October, the Chicago-based hedge fund confirmed. The new unit will be part of its Citadel Securities division and will be based in New York.

The firm had been building a team with leveraged finance veterans for some months. Citadel hired former Merrill Lynch alums Carl Mayer and Brian Maier in May to head leveraged finance and industry groups, respectively.

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