Citadel’s Barratt Departs After Losses on Spirit, Other Trades

The giant multistrategy hedge fund Citadel parted ways with credit portfolio manager Zachariah Barratt after a series of losses, including a soured bet on Spirit Aviation Holdings Inc., according to a person familiar with the matter.

He previously led corporate credit trading at Apollo Global Management Inc. and joined the global credit business of Ken Griffin’s hedge fund firm in 2021.

Barratt’s portfolio was weighed down by Spirit, according to people familiar with the matter, asking not to be identified discussing confidential information. The budget airline filed for bankruptcy in late 2024 after a merger with JetBlue Airways ...