Hillspire, the family office of Eric Schmidt, executive chairman of Google, acquired a 20% passive ownership stake in D.E. Shaw Group, a hedge fund and alternative investment manager.
Hillshire acquired the ownership stake in D.E. Shaw from Lehman Brothers Holdings on Thursday, said Todd Fogarty, a D.E. Shaw spokesman, in an interview. Financial terms were not disclosed.
Mr. Fogerty said there will be no changes in D.E. Shaw’s investment strategies or operations.
Mr. Schmidt said in a joint news release that he has been “a long-standing investor in the D.E. Shaw Group’s funds,” and added he is “excited to invest in an enterprise that has so successfully used technology to deliver superior risk-adjusted returns.”
D.E. Shaw managed about $36 billion as of April 1, Mr. Fogarty said.
Scott Olle, Hillspire’s director of investments, did not return a call by press time seeking more information about the D.E. Shaw acquisition and the size of Hillspire’s portfolio.