Overdeck is the co-owner of Two Sigma Investments, a New York-based hedge fund that manages $60 billion in assets using a quantitative analysis investment strategy. Overdeck founded Two Sigma Investments with co-chairman David Siegel in 2001 after earlier stints at Amazon.com and D.E. Shaw & Co.
Overdeck's fortune is held in Two Sigma Investments, the hedge fund he co-founded in 2001 with David Siegel and Mark Pickard. Overdeck has about $5.6 billion in assets in the firm, based on an analysis of the 2023 Form ADV filed with the Securities and Exchange Commission.
The billionaire owns half of Two Sigma, according to the Form ADV. The company is valued based on assets under management of $60 billion as reported on the company's website and the average price-to-assets under management of three publicly traded funds Sculptor Capital Management, Janus Henderson Group and Man Group. A 5% liquidity discount is applied.
Overdeck declined to comment on his net worth through spokesperson Hannah Fuchs in November 2022.
Overdeck was born in Maryland into a mathematical family: his father was a senior mathematician at the National Security Agency, his mother a director of satellite communications software development at Computer Sciences Corp. As a teenager, he earned a silver medal at the 1986 International Mathematical Olympiad, placing 22nd among 210 contestants from around the world, according to the organization's website.
He then attended Stanford University, where he received his undergraduate degree in mathematics and a master's degree in statistics. After leaving Stanford, he worked for D.E. Shaw, directing the hedge fund's Japanese equity and equity-linked investments and supervising Shaw's London office. Overdeck later worked at Amazon.com as technical assistant to Jeff Bezos and then as head of customer relationship management developing personalization and target marketing technology, according to a Two Sigma biography.
He founded quantitative hedge fund Two Sigma Investments with David Siegel and Mark Pickard in 2001. They aimed to bring technology and data science together and developed systematic trading systems. The company thrived in the aftermath of the Great Recession, seeing its assets under management triple between 2009 to 2011, according to a report by Alpha Magazine. Today, Siegel and Overdeck own Two Sigma and are co-chairmen and the two owners of the company, located in the SoHo district of Manhattan. Pickard retired in 2001, sold his stake to his partners in 2006, and remains president emeritus.
The billionaire married technology consultant Laura Bilodeau in 2002, according to a New York Times wedding announcement. They live in Short Hills, New Jersey, with their three children.