Jim Simons: Is there a single family office?

Where does the fortune of Jim Simons come from?

Jim Simons is a mathematician and billionaire hedge fund manager. Known to be a quantitative investor, Simons founded “Renaissance Technologies” in 1982, a private hedge fund based in New York. If you’re looking for other single family offices of hedge fund billionaires check this article. Renaissance specializes in systematic trading using quantitative models derived from mathematical and statistical analyses. The firm is widely regarded as the “most secretive and successful” hedge fund of all time. Because of its massive success Simons has been described as one of the greatest investors in Wall Street. Today Simons net worth is estimated to be somewhere around 21 billion U.S. dollars, making him one of the richest people in the United States.

How did the Simons family business develop?

After receiving a bachelor’s degree in mathematics from the Massachusetts Institute of Technology and a PhD, also in mathematics, from the University of California, Jim Simons founded the American hedge fund “Renaissance Technologies” in New York in 1982. In 1988 Renaissance established its most famous and profitable portfolio, the Medallion fund, which used an improved and expanded form of Leonard Baum’s mathematical models improved by pioneering algebraist James Ax to explore correlations from which they could profit. The mathematical models the company developed worked better and better each year, and by 1988, Simons had decided to base the company’s trades entirely on the models. From 2001 through 2013, the fund’s worst year was a 21 percent gain, after subtracting fees. Medallion reaped a 98.2 percent gain in 2008, the year the Standard & Poor’s 500 Index lost 38.5 percent. Simons ran Renaissance until his retirement in late 2009. Today Renaissance has AUM around 70 billion U.S. dollars.

Is there a Jim Simons family office?

Yes. “Euclidean Capital”, based in New York, manages and invests all the assets belonging to Jim Simons.

How does the Jim Simons family office invest?

The single family office of Jim Simons focuses mainly on venture capital investments in the fields of life science, healthcare, artificial intelligence, internet technology, food and biotech. Last year, we reported about an investment made by Euclidean Capital: Peltarion, a Swedish AI-startup whose technology enables companies to use Artificial Intelligence. A more recent investment, made last month, is “Codagenix”. The company employs a proprietary technology platform for the construction of live attenuated viral vaccines for multiple targets.

This article is part of our detailed report “The single family offices of the richest US families“.

Picture source: Sherzod Max

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