Two Sigma's $60B Hedge Fund Founders Step Down Amid Feud

Aug 28, 2024, 02:25 PM

The billionaire founders of Two Sigma Investments, John Overdeck and David Siegel, are stepping down from their roles in day-to-day management after years of internal conflict. The hedge fund, which manages $60 billion, has been affected by the founders' inability to make key decisions due to their disagreements. The leadership transition will see two new co-chief executive officers taking over the reins. This decision comes after the founders disclosed their ongoing disputes in a securities filing last year, highlighting the significant impact of their feud on the fund's operations. The founders, known as quant-trading pioneers, have resolved their long-running feud with this move.