James Simons Steps Down as Chairman of Renaissance Technologies (The Wall Street Journal)
Investing pioneer James Simons is stepping back from his quant hedge fund, Renaissance Technologies LLC. Several weeks ago, Mr. Simons – a former math professor and codebreaker who built Renaissance into one of the most successful investment firms in history – told clients he was stepping down as chairman of the firm’s board of directors as of Jan. 1. Mr. Simons, who will turn 83 in April, resigned as Renaissance’s chief executive in 2010, but continued to lead the board.
Blackstone-Backed Hedge Fund That Beat Peers Likes Old-World EMs (Bloomberg)
Carrhae Capital, the Blackstone Group Inc.-backed hedge fund, is betting on old-world industries in emerging markets that will benefit from recovering demand amid continued monetary stimulus worldwide. After a year in which tech stocks excelled, the prospect of a pick-up in growth augurs well for more traditional companies, even though additional fiscal stimulus under Joe Biden will likely lead to higher U.S. Treasury yields, said Ali Akay, the London-based chief investment officer of Carrhae.
Silver Lake Amasses $20bn for Largest-Ever Tech-Focused Buyout Fund (Opalesque.com)
Silver Lake has closed buyout fund Silver Lake Partners VI at $20 billion, reaching its hard cap, as the technology-focused private equity firm looks to focus on large-scale investments. The raised capital includes roughly $500 million from the general partner. The fund will target global large-cap technology firms. “We are very pleased with the response we have received across the board from limited partners, especially given the current environment, which we believe validates Silver Lake’s strategic discipline, deep technology expertise, and intensive focus on growth,” said Susannah Carrier, Managing Director and global head of fundraising and investor relations.
Hedge Fund Balyasny Asset Management Hires Senior Energy Traders (Reuters)
NEW YORK, Jan 13 (Reuters) – Hedge fund Balyasny Asset Management (BAM) has hired two senior energy traders, sources familiar with the matter said on Wednesday. The firm hired Mike Grigsby, former senior managing director and head of proprietary crude oil trading at commodities merchant Castleton Commodities International, the sources said.
Healthcare Hedge Fund Rhenman Gauges “Crucial” Impact of Biden Administration’s Planned Reforms (Hedge Week)
The incoming US administration led by Joe Biden will be a “crucial” factor looming large over the healthcare industry this year, with planned reforms heralding potentially far-reaching implications for healthcare stocks and drug prices, Rhenman & Partners Asset Management said this week. Rhenman’s flagship Healthcare Equity Long/Short hedge fund gained 17.1 per cent in its main euro-denominated IC1 share class last year, bolstered by a 4.8 per cent monthly return in December.