New Jersey Billionaire Wins Bid to Keep Hedge Fund Details Private in Divorce Case
A billionaire involved in New Jersey’s most high-profile divorce case has successfully requested to keep the value of his hedge fund’s assets confidential as he and his wife dispute their immense fortune.
John Overdeck, aged 56, approached a judge asking to exclude the public from a Newark courtroom during discussions related to the assets of his $80 billion hedge fund, Two Sigma.
Family-court Judge Bruce Buechler did not agree to seal the entire testimony from Overdeck’s financial expert, Todd Povlich, but allowed segments of his testimony to be conducted privately if they could potentially disclose proprietary information about Two Sigma.
This decision emerged on the 10th day of a lengthy hearing, where Overdeck’s estranged wife, Laura, also 56, is fighting for a 35% share of John’s portion of the company, which he co-founded in 2001 alongside other partners including David Siegel, leading to ongoing internal conflicts.
The couple, who have three children, did not sign a prenuptial agreement before marrying in 2002.
On one side, John’s team estimates his stake in Two Sigma to be worth around $4.5 billion, while Laura contends it is valued at $6.2 billion, advocating for her claim that it should be considered a marital asset.
During the publicly accessible portions of the hearing, Laura, sporting red glasses and a cream blazer, seemed engaged—typing on her laptop and frequently conferring with her legal team.
In contrast, John appeared more focused on his phone while listening to questioning directed at Povlich, who is nearly the last witness for his side.
During the sealed portion of the hearing, Povlich was anticipated to clarify how he arrived at his valuation of Two Sigma by discussing what he believed the company’s various entities should be worth.
Earlier, Laura’s attorney, Theresa Lyons, questioned the need for secrecy around Povlich’s testimony, citing that John’s valuation had already been made public. Judge Buechler expressed concerns that revealing certain details could unveil sensitive information regarding investments and future valuations that might harm the company.
Laura filed for divorce in 2022 after two decades of marriage, during which they raised their children in a luxury home in Short Hills, supported by a nanny and a part-time housekeeper.
She has alleged that John attempted to conceal his wealth to minimize his financial obligations in the divorce process. Laura has rejected a previous settlement offer exceeding $600 million, asserting that she deserves a significantly higher amount if she secures part of his hedge fund.
The hearing is set to resume for public attendance on Wednesday morning, with additional court days planned later this month, including testimony from another financial expert.
While John has previously testified for several days, Judge Buechler has prohibited any testimony from Laura after allegations surfaced regarding her unethical behavior in the case, which include accusations of hacking John’s computer, breaking into his mailbox, and deleting evidence from her phone.
Recently, John purchased an extravagant $72 million waterfront estate in Palm Beach, Florida, where he currently resides with his new partner, Kimia Shadrokh, 42, a managing director at Peakstone and formerly with the Moinian Group.
