Renaissance Starts First Hedge Fund in Five Years Trading Stocks
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Renaissance Technologies LLC, the $20 billion investment firm founded by Jim Simons, is starting a new hedge fund, its first in five years, to trade stocks and futures, according to a document sent to potential investors.
Renaissance, based in East Setauket, New York, uses computer models to decide when to buy and sell. It already runs the $7 billion Renaissance Institutional Equities Fund and the $4 billion Renaissance Institutional Futures Fund, along with a third fund that is open only to the firm’s employees.