A secretive quant fund offered staff the rare opportunity to invest — and then delivered a bumper return
|08/20/2017||Posted by BusinessMediaguide.Com under General World News||
Renaissance Technologies, a secretive quant fund founded by math whiz James Simons, gave employees the opportunity to increase their stakes in the firm’s flagship fund by 50% or more after President Trump’s election — if they could do it in three weeks.
At least six employees took out sizable loans in order to do so, Bloomberg News’ Miles Weiss reports.
“Many RenTech staffers were caught off guard when told in early December that these limits would be significantly raised for the first time in years,” writes Weiss.
RenTech had $42 billion firmwide hedge fund assets, as of January 1, 2017, according read more >>>