The backstory, for those unfamiliar with Renaissance: they have more than one fund available. Their highest performing fund, Medallion, is the one which made th

The backstory, for those unfamiliar with Renaissance: they have more than one fund available. Their highest performing fund, Medallion, is the one which made them famous in the 90s. In the early 2000s it was closed to outside investment (likely due to capacity constraint for the strategies it uses). It's now exclusively an investment vehicle for employees and their families, somewhat like a large proprietary trading firm. The really interesting thing here is that Renaissance received clearance to roll employee IRAs into the Medallion fund. That leverages significant tax advantages on a fund which already provides significant returns for its employees.