Renaissance’s Simons Delays Retirement Plans

Wall Street Journal reports, “Renaissance Technologies founder James Simons this year took steps to retire from his famed hedge-fund firm but has put the plans on hold for now, people familiar with the discussions say. The firm won’t discuss the reasons behind his moves. But Mr. Simons appears increasingly willing to part with at least some control of his hedge-fund firm, one of Wall Street’s most famous, successful and secretive. The 71-year-old executive has traveled to China to talk with officials of the China Investment Corp., the $200 billion sovereign-wealth fund, about selling a multibillion-dollar stake in Renaissance, people with knowledge of the matter said. It isn’t uncommon for leaders of investment-management firms to sell stakes as they approach retirement. The China talks, which took place last year, didn’t lead to a deal, the people said. But this year, a top Renaissance executive told Wall Street associates that the firm could sell a stake, a person outside Renaissance who was involved in the talks said. CIC didn’t respond to a request for comment.”

read more: Wall Street Journal

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