Medallion shuts $5.4bn fund to outsiders

Friday 30 December 2005 at 16:00

The staff of Renaissance Technologies, whose $5.4bn (€4.5bn) Medallion hedge fund has been called "the most successful hedge fund ever", are to use their personal income to buy out external investors.

Mark Silber, chief financial officer of Renaissance Technologies, said: "By the end of the year, the investors in Medallion will be entirely comprised of affiliates of Renaissance Technologies, meaning employees, ex-employees and their family members."