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Billionaire files for divorce after 11-year marriage

New Jersey residents might be interested in a recent divorce case involving the founder of a prominent hedge-fund firm based in Chicago. On July 23, the 45-year-old billionaire filed for divorce from his 43-year-old wife after 11 years of marriage, citing 'irreconcilable differences," according to court documents.

During their marriage, the hedge-fund founder and his wife had three children. According to the filing, the 45-year-old husband is seeking joint custody of the children. The couple married in 2003. It was the second marriage for the man, whose first marriage was dissolved in 1996, reportedly.

The 43-year-old woman is a managing partner of an investment firm that oversaw some $200 million in assets during its peak years, reportedly. Authorities state that the hedge-fund firm founded by the 45-year-old man is worth approximately $20 billion, a net value that will not be affected by the divorce.

According to the filing, the 45-year-old man and his wife have experienced an 'irretrievable breakdown" in their marriage. Moreover, they have a premarital agreement that governs all nuptial issues, such as the maintenance and division of property. The agreement is dated July 18, 2003.

According to the 43-year-old woman's lawyer, the husband filed for divorce without giving the woman notice. Her highest priority is the well-being of their children, the lawyer states.

Prenuptial agreements often simplify the process of dividing marital and non-marital assets in the event of a divorce. This is especially valuable in high-asset divorces, which can become exceedingly complex. For this reason, retaining the counsel and representation of a family law attorney is not only important but also indispensable.

Source: Bloomberg, "Citadel’s Griffin Seeks Divorce After 11-Year Marriage", Andrew Harris, Saijel Kishan and Katherine Burton , July 24, 2014

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