Renaissance Technologies founder, James Simons, has postponed his retirement plans, The Wall Street Journal reports. The hedge fund firm’s speech-recognition experts, Peter Brown and Robert Mercer, are likely to replace Simons as head of the firm.
Simons was negotiating with sovereign wealth fund, China Investment Corporation, about selling a multi-billion dollar stake in Renaissance. The talks did not materialize into a deal.
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This article was originally published in Alternative Investment News.