Hedge Funds

Renaissance Denies Stake Sale Report

CNBC.com and Reuters

Renaissance Technologies, one of the world's biggest hedge funds, denied on Tuesday a report that it was considering selling a minority stake to a big investor or group of investors in the coming weeks.

"We are not in discussions and there are no plans," a spokesman for the firm told Reuters news agency. "There is no truth to the story."

The Financial Times reported on its Web site that Renaissance was considering a listing that would not be registered and would be available only to institutional and other sophisticated investors.

The paper had said the move suggested the $30 billion hedge fund, run by billionaire mathematician James Simons, may believe the crisis in the U.S. credit markets and the global fear of risk among investors will be short-lived.