New York-based hedge fund Renaissance Technologies Corporation, with assets worth $35.4 billion (Rs 1,41,600 crore), has received approval from the Securities and Exchange Board of India (Sebi) to operate in the Indian stock markets as a foreign institutional investor.
The designation allows the firm to participate directly in India’s financial markets.RenTech is the largest hedge fund to register in India since the new scheme was unveiled.
Other funds with foreign institutional investor status.
- D.E. Shaw
- Och-Ziff Capital Management
- Citigroup’s Old Lane