Affiliated Managers Group acquired AQR Capital Management, a transaction completed in November 2004, structured as cash (terms not disclosed). The deal was a Minority-stake investment.
AQR Capital Management operates in Quantitative / hedge funds, is based in Greenwich, Connecticut, USA, had revenue of about $12 billion AUM. AMG acquired an equity interest in AQR Capital Management, the Greenwich, Connecticut quantitative investment manager and hedge fund firm founded in 1998 by Clifford Asness, David Kabiller, Robert Krail and John Liew. At the time AQR managed approximately $12 billion (over $6.5 billion in hedge fund products) across roughly 17 distinct strategies for more than 500 institutional and high-net-worth clients. AQR's management retained the remaining equity and full operating autonomy.
Access to a fast-growing, top-tier quantitative and alternatives franchise, with founders retaining control and alignment through equity ownership.
Advisory firms were not disclosed for this transaction.