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Only the United States has a bigger fund industry.
Several bigger fund companies plan to follow suit.
But on another, it suggests bigger fund firms may struggle to live up to past glories.
A bigger fund (and the social pact) should soften worries about Spanish sovereign debt, at least for the time being.
It is among the few European private-equity firms to have raised a bigger fund since the downturn.
Germany, as the key player, is resisting calls from Christine Lagarde, the IMF chief, for a bigger fund.
Similar(22)
It also conducted a more traditional effort to draw in bigger fund-raisers who generally do business in six figures.
In addition, bigger fund-management groups can spend more on advertising and attract even more money.Nevertheless, it does seem that firms often become leading lights of the industry only to be brought down to size.
"Menendez has a much bigger profile and much bigger fund-raising base than any of the other people being mentioned for Corzine's seat," one Democratic operative in Washington said.
But newer (and far bigger) funds have yet to sparkle.
Renaissance's other, bigger funds have done less well.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com