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Renaissance Technologies LLC

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Renaissance Technologies LLC

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Renaissance Technologies is a hedge fund founded in 1982 by James Simons. Renaissance is known for using advanced scientific and technological techniques to execute rapid trades in liquid securities. These quantitative trading methods rely on looking for inconsistencies is historical price data. Renaissance employs hundreds of non-financial specialists including physicists, mathematicians, and astrophysicists, to help develop their hedge fund trading programs. Renaissance Technologies employs over 300 people and has more than $30 billion AUM.

Beginning in 1989, Renaissance Technologies’ Medallion Fund has averaged a 35% annual return, and is said to be one of the most successful funds in history. Because of its success, Renaissance charges a management fee of up to 5% and an incentive fee of more than 40 % in some cases. This is a far higher hedge fund fee structure than the 2/20 industry standard.

In September, 2008 Renaissance wrote a letter to the SEC discouraging them from forcing institutional investors to disclose their short positions, arguing that disclosure would force investors to alter their trading artificially just to avoid disclosure.

Renaissance has offices in Long Island, New York, San Francisco, London and Milan

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