Hedge Funds

Renaissance lowers cap on RIEF inflows


Renaissance Technologies is once again lowering the limit on monthly inflows into its high-performing Renaissance Institutional Equities Fund.

Marketers for the long-biased portfolio launched by Jim Simons in July 2005 told investors that inflows of fresh capital will be capped at $1.5 billion per month beginning on February 1, down from a $2 billion limit the firm said it would put in place last fall. The strategy, which is estimated to run about $20 billion, is now understood to be fully subscribed at least until June 1. Renaissance, of East Setauket, N.Y., has also told investors that it