New York, HedgeCo.Net – Google chairman Eric Schmidt, has bought a 20% equity share in the D. E. Shaw group, a global hedge fund investment and technology development firm with more than $36 billion in aggregate investment capital.
“I’ve always regarded Eric as a kindred spirit—someone who shares our belief in the power of groundbreaking innovation, analytical rigor, and extraordinarily gifted employees,” said David Shaw, founder of the D. E. Shaw group. “I’ve known and respected David for many years, and as a longstanding investor in the D. E. Shaw group’s funds, I have the highest regard for their team and the firm that they’ve built,” said Eric Schmidt. “I’m excited to invest in an enterprise that has so successfully used technology to deliver superior risk-adjusted returns across asset classes globally.”
California based Hillspire, LLC, the family office that serves as the investment vehicle for Google Executive Chairman Eric Schmidt and his family, purchased the 20 percent equity interest previously owned by Lehman Brothers Holdings Inc. The equity stake represents a passive economic interest in the D. E. Shaw group, which will continue to function independently, with no changes in management or operations.
“We’ve worked with Hillspire for quite some time now, and have developed great respect and admiration for them,” said Anne Dinning, a Managing Director at the D. E. Shaw group and a member of the firm’s Executive Committee. “We’re truly delighted to be expanding our relationship with them.”
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