Eric Schmidt, the billionaire chairman of Google Inc., bought a 20 percent stake in hedge fund manager D.E. Shaw that was previously held by Lehman Brothers Holdings Inc.

Schmidt bought the stake through his investment firm, Hillspire LLC, according to a statement today. The stake is passive and there won’t be any changes to management or operations of D.E. Shaw, the companies said.

“I’m excited to invest in an enterprise that has so successfully used technology to deliver superior risk-adjusted returns across asset classes globally,” Schmidt said in the statement.