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.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
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.
Compensation for the highest-paid U.S. hedge-fund managers plunged 35 percent in 2011 to $14.4 billion after the European sovereign debt crisis pushed the industry to its second-worst year ever, a survey showed.