Renaissance Technologies climbed its way into the top ten list of AR Magazine's biannual survey of America's top hedge funds.
It didn't beat Bridgewater's massive size, but the firm made news in July after the New York Times' Dealbook reported that their institutional equities fund was up 21 percent - or $6 billion - amid a period when other quantitative hedge funds had suffered huge losses.
Renaissance’s meteoric rise to the top edged out King Street Capital Management, who was number 10 in the last two surveys released by AR.
Overall, the AR Magazine poll of 241 firms with more than $1 billion in managed assets found that American hedge funds have seen positive returns despite an unsteady six-month in the beginning of this year. In the first half of 2011, assets managed by hedge funds in America grew to $1.399 trillion- a 8 percent, or $102 billion, increase.
Source: AR Magazine
#10: Farallon Capital Management
Name: Farallon Capital Management
Founder: Thomas F. Steyer
Year Founded: 1986
Size (AUM): $20 billion
Investment Strategy: Multiple strategies including value investments, event-driven merger arbitrage, etc.
Fun Fact: The firm is considered a pioneer of the absolute returns investment model.
Source: AR Magazine
#9: Renaissance Technologies
Name: Renaissance Technologies
Founder: James Simons
Year Founded: 1982
Size (AUM): $20 billion
Investment Strategy: Quantitative
Fun Fact: The fund is known for hiring the mathematically inclined, often bringing on employees with Ph.D.’s math, physics and other quantitative subjects.
Source: AR Magazine
#8: Angelo, Gordon & Co.
Name: Angelo, Gordon, & Co.
Founder: John M. Angelo and Michael L. Gordon
Year Founded: 1988
Size (AUM): $22.21 billion
Investment Strategy: Multiple strategies including risk arbitrage, distressed securities, convertible arbitrage, etc
Fun Fact: Angelo and Gordon headed the arbitrage desk at L.F. Rothschild in the 1980s before they started their own firm. The company is actually a private equity firm that sponsors hedge funds.
Source: AR Magazine
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