(Reuters) -Kenneth Griffin’s Citadel marked record revenues in its hedge fund and electronic-trading businesses for 2022 despite turmoil in global capital markets, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The hedge fund operation made about $28 billion in revenue, while Citadel Securities, one of the world’s biggest electronic-trading firms, brought in $7.5 billion, the report added.

Citadel did not immediately respond to a Reuters request for comment on the matter.

The hedge fund was also expected to return about $7 billion in profits to investors in the first week of January after a stellar performance last year, a source familiar with the matter had told Reuters in December.

Fears of interest rate hikes and the Russia-Ukraine war weighed on capital markets throughout 2022, leaving the benchmark S&P 500 down about 19%, but hedge funds have weathered the downturn better than other financial firms.

(Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)