Hedge fund industry insiders say Two Sigma's unusual risk disclosure was years in the making
Overdeck and Siegel could be collegial, said one of the people who spoke with Insider, but their relationship seemed to deteriorate over time. They have always seemed to be in competition with each other for credit over accomplishments and successes, the person said.
A presentation at Two Sigma's offices in 2017. The firm has been known mainly as a premier quantitative hedge fund since its founding.Kevin Mullally, an associate professor of finance at the University of Central Florida who has studied the hedge fund industry for years, said he had never seen such a disclosure after reading the March filing from Two Sigma.
"They're pretty off the books with a lot of this stuff," Mullally said in an interview, referring to hedge funds broadly and the relatively few disclosures they are obligated to make around governance and other matters. Then when it comes to planning for the next generation of leaders to take over from hedge fund founders, the transition can be difficult.
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