2009-10-09 — wsj.com
Current co-presidents Peter Brown and Robert Mercer will be co-heads. The veteran insiders joined Renaissance in the 1990s from International Business Machines' speech-recognition group, and have been considered likely successors to the CEO post.
They're taking over one of the biggest, and most secretive, hedge-fund firms, with $17 billion in assets. At its peak, Renaissance assets totaled $36 billion, but that number declined as 2008 losses and redemptions took their toll.
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