Eric Schmidt Buys 20% Stake In Quant Hedge Fund DE Shaw


Eric Schmidt, Google’s billionaire chairman, has purchased a 20% stake in DE Shaw, the big quantitative hedge fund firm founded by billionaire David Shaw.

Schmidt’s family office, Hillspire LLC, scooped up the stake from the estate of Lehman Brothers, which purchased the stake for some $750 million before the investment bank failed in 2008, helping to spark the financial crisis. The Lehman Brothers estate had been trying to sell the stake for a while, but the passive nature of the stake and the maturity of DE Shaw made it a bit of a tough sell. The financial terms of Schmidt’s purchase were not disclosed in the announcement of the deal.

DE Shaw, which was founded in 2008, manages $36 billion. The firm’s funds have posted blended returns of 8.4% this year through the end of March. David Shaw no longer is involved in the day-to-day operations of the firm, but does play a role in its strategic direction. He spends most of his time as chief scientist at DE Shaw Research, which conducts computational biochemistry research…

Eric Schmidt Buys 20% Stake In Quant Hedge Fund DE Shaw

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