Google Inc.'s GOOGL Chairman Eric E. Schmidt
acquired a 20 percent stake in hedge fund manager D.E. Shaw Group for an undisclosed price.
http://www.deshaw.com/articles/LehmanStakePressRelease.pdf
Shaw, which manages about $36 billion, said in a statement Tuesday that Schmidt has acquired the equity interest previously held by Lehman Bros Holdings Inc.
Schmidt's stake represents a passive economic interest in the D. E. Shaw group, which will expects no changes in its management or operations, Shaw said.
In a statement, Schmidt said he's "excited to invest in an enterprise that has so successfully used technology to deliver superior returns."
Shaw specializes in using computer models to analyze potential investments.
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