(Bloomberg) In late March, a headline flashed across the Bloomberg terminal: Renaissance Technologies holds 5.43 percent of CyberStep Inc. It turned out to be one smart bet. The Tokyo-based developer of online games, which few outside the industry would have heard of, was about to put in the second-best quarter of any company in Japan, handing the secretive U.S. hedge fund a more than sixfold return. Over the past year, the stock has gained 1,813 percent.
Renaissance took some profit, trimming the position according to a filing in May. But it was still one of the company’s largest institutional shareholders with a 3.45 percent stake at that time, according to the filing. An email to Renaissance outside U.S. office hours wasn’t immediately answered. A CyberStep official declined to comment.
