Renaissance Said to Start Trading New Fund With $3.5 Billion
This article is for subscribers only.
Renaissance LLC, the investment firm founded by Jim Simons, started trading its new hedge fund on March 1 with $3.5 billion in assets, mostly employees’ money, according to two people familiar with the matter.
The Renaissance Institutional Diversified Alpha Fund is the first that the East Setauket, New York-based firm has started in five years. It climbed 3 percent in March and during the first 13 days of April, according to one of the people briefed on the return, who asked not to be identified because the information is private.