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| Formerly | Monemetrics (1978–1982) |
|---|---|
| Company type | Private |
| Industry | Financial services |
| Genre | Hedge fund |
| Founded | 1978 |
| Founders | |
| Headquarters | , |
Key people | |
| Products |
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| AUM | US$130 billion (as of April 19, 2021)[2] |
Number of employees | 310[3] (2021) |
| Website | rentec |
Renaissance Technologies LLC (also known as RenTec[4] or RenTech[5]) is an American hedge fund based in East Setauket, New York,[6] on Long Island, that specializes in systematic trading using quantitative models derived from mathematical and statistical analysis. Renaissance was founded in 1982 by James Simons, a mathematician who worked as a code breaker during the Cold War.
In 1988, the firm established the Medallion Fund, a form of Leonard Baum's mathematical models expanded by algebraist James Ax, to explore correlations from which it could profit. The hedge fund was named Medallion in honor of the math awards Simons and Ax had won.[7][8]
Simons ran Renaissance until his retirement in late 2009.[9] He continued to play a role at the firm as non-executive chairman until 2021. He remained invested in its funds, particularly the Medallion fund, until his death in 2024.[10] The company is now run by Peter Brown (after Robert Mercer resigned). Both were computer scientists specializing in computational linguistics who joined Renaissance in 1993 from IBM Research.[1][11][12] The fund has $165 billion in discretionary assets under management (including leverage) as of April 2021.[13]
- ^ a b Patterson, Scott (16 March 2010). "Pioneering Fund Stages Second Act". Wall Street Journal. Retrieved 1 November 2015.
- ^ "The largest managers of hedge funds (P&I Sep 2019)". No. Special Report Hedge Funds. United States: Pensions & Investments. Crain Communications Inc. 16 September 2019. Archived from the original on 30 July 2020. Retrieved 15 October 2019.
- ^ "Renaissance Technologies LLC – NEW YORK, NY – Avoid Fraud, Get The Facts, And Find The Best". investingreview.org. Retrieved 2 May 2023.
- ^ "Inside Renaissance Technologies Medallion Fund". Attic Capital. 23 November 2019. Archived from the original on 7 April 2020. Retrieved 7 April 2020.
- ^ Weiss, Miles (1 February 2019). "Hedge Fund RenTech Created the Ultimate, Tax-Free IRA Account for Employees". Bloomberg. Archived from the original on 7 April 2020. Retrieved 7 April 2020.
- ^ Mider, Zachary R.; Rubin, Richard (11 July 2014). "Renaissance Said Probed by Senate Panel on Tax Maneuver". Bloomberg. Archived from the original on 5 January 2016. Retrieved 26 December 2015.
- ^ Cite error: The named reference
bloomberg_271107was invoked but never defined (see the help page). - ^ "The American Mathematical Society and the Mathematical Sciences Research Institute's 2014 AMS Einstein Public Lecture in Mathematics with James H. Simons". youtube.com. San Francisco State University. 30 October 2014. Archived from the original on 16 March 2016. Retrieved 11 November 2015.
- ^ PÉREZ-PEÑA, RICHARD (13 December 2011). "Stony Brook University to Get $150 Million Gift". The New York Times. New York Times. Archived from the original on 9 September 2017. Retrieved 28 February 2017.
- ^ "Forbes 400". Forbes.com. Archived from the original on 31 August 2019. Retrieved 1 November 2015.
- ^ Herbst-Bayliss, Svea (15 October 2015). "Renaissance Technologies to shut small hedge fund: sources". Reuters. Archived from the original on 25 October 2015. Retrieved 31 October 2015.
- ^ Blake, Mariah. "Why Are These Hedge Fund Kingpins Dumping Millions Into the Midterms?". Mother Jones. Archived from the original on 15 October 2014. Retrieved 14 October 2014.
- ^ "The Medallion Fund Is Still Outperforming. Other Renaissance Funds Still Aren't". Institutional Investor. 19 April 2021. Retrieved 19 April 2021.