In the latest of a string of hedge fund stakes being bought
by investment banks, Lehman Brothers announced this week that
it has taken a 20% interest in the legendary D. E. Shaw group.
With $26.3 billion in assets as of January 1, the
quantitatively driven firm ranked fourth in the most recent
Absolute Return Billion Dollar Club.
The deal has to be the most expensive bank/hedge fund
combination to date. Based on valuations...