Hedge fund titan John Overdeck is back on the stand in Newark, New Jersey, as his divorce trial continues over what could be the state's largest divorce settlement. The case centers on Laura Overdeck's claim to a 35% stake in Two Sigma Investments, a hedge fund co-founded by her estranged husband. If successful, this claim could award her approximately $6.2 billion and potentially shift the balance of power within the $80 billion firm, where Overdeck is reportedly in a dispute with co-founder David Siegel.
John Overdeck, 56, testified previously about his concerns that the contentious divorce proceedings and his conflict with Siegel could negatively affect Two Sigma. However, his estranged wife's lawyer, Theresa Lyons, questioned this, noting that the assets under management at the firm have increased since the divorce complaint was filed and public attention began. Overdeck acknowledged that this was correct.
The current proceedings represent a critical opportunity for Laura Overdeck to argue that her husband's stake in Two Sigma is a marital asset. She has been barred by New Jersey state Family Court Judge Bruce Buechler from testifying herself or calling expert witnesses, following allegations of hacking her husband's email, among other tactics. The couple married in 2002 without a prenuptial agreement, which necessitates the division of their assets.
Overdeck's legal team has offered his former wife more than $600 million. John Overdeck's argument is that Two Sigma, based in Manhattan, was established years before their marriage. Conversely, Laura Overdeck contends that the firm was largely conceptual at the time of their wedding, with no significant assets.
Beyond the hedge fund stake, Laura Overdeck is also seeking an equal share of hundreds of millions of dollars in treasury funds and their foundation. She is also requesting to be reinstated as an equal partner in trusts established for their three children. The couple's primary residence in Short Hills, New Jersey, valued at approximately $4.58 million according to Zillow, appears to be the only physical asset directly in dispute.
![John Overdeck (left) and Laura Overdeck attend "The Bloomberg 50" Celebration at Gotham Hall on Monday, December 4, 2017, in New York City.]( "John Overdeck (left) and Laura Overdeck attend "The Bloomberg 50" Celebration at Gotham Hall on Monday, December 4, 2017, in New York City.")