Well, today there was yet another deal in hedge fund land. And it's a big one: Lehman Brothers (NYSE: LEH) has snagged 20% of D.E. Shaw & Co.
With $29 billion in assets, it's the fourth largest hedge fund in the world. Keep in mind that Lehman has less than $10 billion in alternative investments.
Something else to consider: Why is D.E. Shaw selling out? Might it think that there are some problems ahead? It's getting tougher to manage lots of capital?
It's impossible to tell. But, in light of the staggering valuation of Fortress Investments (NYSE: FIG) -- a hedge fund that recently went public -- D.E. Shaw probably got a good price for its equity.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
