Jonathan Ernst/ReutersRenaissance Technologies, a secretive quant fund founded by math whiz James Simons, gave employees the opportunity to increase their stakes in the firm's flagship fund by 50% or more after President Trump's election — if they could do it in three weeks. At least six employees took out sizable loans in order to do so, Bloomberg News’ Miles Weiss reports. “Many RenTech staffers were caught off guard when told in early December that these limits would be significantly raised for the first time in years,” writes Weiss. RenTech had $42 billion firmwide hedge fund assets, as of January 1, 2017, according to the Hedge Fund Intelligence Billion Dollar Club ranking, and has raised at least $2.1 billion since. Altogether, RenTech's Medallion fund returned an 11.6% profit in the first half of this year.

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  • CEO of secretive hedge fund Renaissance Technologies says he has spent 2,000 nights sleeping in office in rare interview
    “We will cut back if we think the model doesn’t appreciate the risk…But those are rare.” Renaissance has earned an almost mythical reputation in the hedge-fund industry, largely thanks to ...
    09/18/2023 - 1:24 am | View Link
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