AQR Capital Management, LLC, a global investment manager, received a minority investment from Affiliated Managers Group, Inc. (NYSE: AMG).
The amount of the deal, which is expected to close by December 31, 2014 was not disclosed.
Following the transaction, AQR’s Principals will continue to hold a majority of the firm’s partnership interests and operate the firm independently. Founding Principals Clifford S. Asness, David G. Kabiller, and John M. Liew, as well as the firm’s other 18 Principals, have entered into long-term commitments with the firm. In addition, all of the net after-tax proceeds from the transaction will be invested in the firm’s strategies.
Founded in 1998, AQR is a global investment manager, with approximately $115 billion in assets as of September 30, 2014 across a diverse set of alternative and traditional investment strategies.
The firm has 21 Principals and over 450 employees in offices around the world including Greenwich, Chicago, London, Sydney and Bermuda.
FinSMEs
18/12/2014