Quant Fund Giant Two Sigma Reportedly Halts Fundraising for Real Estate Unit, Cuts Senior Staff

Quant fund giant Two Sigma Investments has reportedly cut senior staff in its real estate unit and stopped raising capital for it, just two years after opening the business to outside investors, according to people familiar with the matter. Rich Gomel, a partner and the unit's chief investment officer, is set to leave the firm. Other members of the real estate leadership team will also depart. Two Sigma reportedly sought to raise about $2 billion for the unit but ultimately secured less than half that target amid a challenging fundraising environment.