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AMG increases its investment in AQR Capital Management

Affiliated Managers Group is increasing its minority investment in AQR Capital Management, LLC, a leading global investment manager and an AMG Affiliate since 2004.

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 AQR strategies.
Founded in 1998, AQR is one of the most dynamic and innovative investment managers globally, with approximately USD115 billion in assets as of September 30, 2014 across a diverse set of alternative and traditional investment strategies. AQR has a long track record of innovation in developing systematic investment strategies based on fundamental economic concepts for institutional investors and financial advisors. The firm has 21 Principals and over 450 employees in offices around the world including Greenwich, Chicago, London, Sydney and Bermuda.
“We are very pleased to strengthen and deepen our successful partnership with AQR,” says Sean M Healey, AMG’s Chairman and Chief Executive Officer. “Cliff, David, John, and the rest of the AQR management team have been outstanding partners over the past decade, and have built a tremendous franchise – one of the fastest-growing, most successful firms in the industry – and our increased investment reflects our strong belief in the firm’s long-term growth potential and future prospects.”
“AMG has been a great partner to us over the last ten years. We thank them for their unwavering commitment to our firm, and look forward to continuing a long and prosperous partnership,” says Asness, Managing and Founding Principal of AQR.
Following the transaction, AMG will hold a minority interest in the partnership and will continue to account for AQR as an equity method investment. The transaction is expected to close by December 31, 2014. While the terms of the transaction were not disclosed, AMG expects that the additional investment will increase Economic earnings per share by approximately $0.60 in 2015.

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