Hedge Funds

Renaissance may take billions


Jim Simons' Renaissance Technologies is understood to have turned away nearly as much capital as it took in for the launch of its newest fund - and it is expected to take in billions of dollars more by year-end.

The East Setauket, N.Y. firm, which was already running $6 billion of hedge fund assets, took in $600 million on Aug. 1 for the long-term version of its flagship Medallion Fund, called the Renaissance Institutional Equities Fund. It is said to have received subscription requests for more than $1 billion.

Depending on the firm's assessment of its capacity, the