D.E. Shaw Group expects to return approximately half of 2024 profits generated by its Composite and Oculus hedge funds to outside investors, said a person familiar with the firm.
The D. E. Shaw Composite Fund, the largest multi-strategy fund at D.E. Shaw Group, produced an estimated net return of about 18% in calendar 2024, following a 9.7% net return in 2023. Launched in 2001, the Composite strategy has generated an annualized net return of approximately 12.7% since inception.
In addition, the D. E. Shaw Oculus Fund, the firm’s macro-oriented multi-strategy fund, produced an estimated net return of about 36.1% in 2024, in the wake of a 7.9% net return in 2023.
Limited partners in the Composite fund include the $166.4 billion State of Wisconsin Investment Board, Madison; the Rhode Island State Investment Commission, which supervises the $11.5 Rhode Island Employees' Retirement System, Providence; and the $5.93 billion Kern County Employees' Retirement Association, Bakersfield, Calif.
Limited partners in the Oculus fund include the Boeing Company Employees Retirement Fund and the Ford Family Foundation.
On Dec. 12, South Carolina Retirement System Investment Commission, Columbia, said it committed $50 million to D.E. Shaw Diopter Fund II, a private credit-focused fund primarily pursuing investments related to synthetic securitizations.