Two Sigma Investments, LLC

Two Sigma Investments, the $60 billion quant giant, announced in October 2023 plans to spin out its private equity impact-investing unit amid internal discontent. The spinout is the latest in a series of recent disruptions for the firm’s clients.On Oct. 6 2023, Two Sigma told investors that an employee “engaged in intentional misconduct” by tampering with its models. Earlier in 2023, the firm said a rift between its billionaire co-founders posed material risk. Two Sigma increased its initial $200 million investment in the Impact unit’s first fund. Some employees saw challenges with a traditional hedge fund firm trying to raise money for a private equity vehicle. The unit, with about 20 employees, also cut jobs as some of the staff weren’t invited to join the new entity, Two Sigma Impact will also reschedule its annual investor meeting to Dec. 13 2023, when it will provide more details on the new firm’s strategic direction.