Lehman buys stake in $29bn hedge fund

Lehman Brothers has bought a 20% stake in DE Shaw, a New York-based hedge fund. The deal, which closed on March 12, involves an upfront payment and future performance-based payments.

"We're very pleased to be associated with Lehman Brothers," says David Shaw, founder of the $29bn private investment vehicle. "Lehman has demonstrated a strong commitment to investment management, and will be a valuable resource to us as we continue our efforts to innovate within both the absolute return and benc

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