Two Sigma co-founder John Overdeck has stated in a New Jersey court that preserving his equal voting position with fellow founder David Siegel is a primary concern as he navigates a divorce claim involving his stake in the $80 billion quantitative hedge fund. Overdeck testified that paying his wife Laura more than his $723 million settlement offer could compel him to sell a portion of his holdings in Two Sigma. Such a sale, he argued, could disrupt the existing balance of control between the two billionaire founders, who have been embroiled in a long-running dispute over the firm's management and structure. He stressed, "Maintaining voting parity with Dr. Siegel is a principal concern."
Overdeck estimates his interest in Two Sigma to be worth approximately $4.9 billion. His wife is seeking 35% of this stake, which she values at roughly $6.2 billion. Overdeck's $723 million offer, he asserted, represents an amount he believes he can pay within a reasonable timeframe. He expressed concern that a larger, court-ordered settlement, especially if not given sufficient time to meet it, might necessitate selling shares under less favorable valuation conditions.
This testimony is part of one of New Jersey's largest divorce proceedings. Overdeck has already spent six days on the witness stand and is scheduled to continue testifying before the case recesses and resumes in October. Judge Bruce Buechler is presiding over the case without a jury and is expected to issue a ruling several months after the trial concludes.
