George Walker, global head of the investment management division at Lehman Brothers in New York, pointed to DE Shaw’s diversified portfolio as a reason for its procurement. “The DE Shaw group is a remarkable institution, one which has unique capabilities appreciated by many of our investing clients,” he said. “Our stake in the group, which offers a broad array of alternative and long-only products, is consistent with our pioneering programme of minority positions in world-class investment platforms.”
Lehman Brothers also has minority ownership in multi-strategy and convertible bond specialist GLG Partners, in Marble Bar Asset Management and in emerging markets specialist Spinnaker Capital Group – all London-based – as well as in New York-based commodities specialist Ospraie Management.
DE Shaw won Risk’s Hedge Fund of the Year award for 2007.