Renaissance Suffers $11 Billion Exodus With Meager Quant Returns
- Hedge fund firm now mostly managing its own internal capital
- Redemptions rose from $5 billion between December and February
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Investors are still headed for the exits at Renaissance Technologies, pulling $11 billion from the quant giant in seven months.
Disgruntled by subpar returns, clients have now redeemed -- or asked to redeem -- more than a quarter of the capital that Renaissance manages in hedge funds with outside money, according to investor documents seen by Bloomberg. The firm now is mostly managing its own internal capital, a person with knowledge of the matter said.