Family Office of Google’s Eric Schmidt Buys Stake in D.E. Shaw

April 27, 2015

On April 23, 2015 Hillspire LLC, an entity that serves as an investment vehicle for Google Inc. Executive Chairman Eric Schmidt and his family, bought a 20% stake in New York-based hedge fund firm D.E. Shaw Group.

Hillspire LLC purchased the stake from Lehman Brothers Holdings Inc. for approximately $500 million.  Lehman Brothers Holdings Inc. had previously purchased its stake for around $750 million in 2007. 

Hillspire LLC, which is run by former Treasury official and hedge fund executive Chuck Chai, manages more than $5 billion for Mr. Schmidt and his family. Prior to its purchase of shares in the fund, Hillspire LLC had been a long-term investor in D.E. Shaw. Its stake in D.E. Shaw Group is passive, meaning that Hillspire LLC will not have any control over management.

To read the news release: please click here.


Hedge Fund Strategic Investments, Investment Manager Strategic Investments, Transactions