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AQR Capital Management is an investment management firm employing a disciplined multi-asset, global research process. AQR’s investment products are provided through a limited set of collective investment vehicles and separate accounts that utilize all or a subset of AQR's investment strategies. These investment products span from aggressive high volatility market-neutral hedge funds, to low volatility benchmark-driven traditional products. Investment decisions are made using a series of global asset allocation, arbitrage, and security selection models, and implemented using proprietary trading and risk-management systems. AQR believes that a systematic and disciplined process is essential to achieve long-term success in investment and risk management. In addition, models must be based on solid economic principles, not simply built to fit the past, and must contain as much common sense as they do statistical firepower. The principals of the firm have been pursuing this research since the late 1980s, and have been implementing this research in one form or another since 1993. The research of AQR's principals is internationally renowned and has resulted in numerous published papers in a variety of professional journals since 1991.
The firm's founding principals, Clifford S. Asness, Ph.D., David G. Kabiller, CFA, Robert J. Krail, and John M. Liew, Ph.D., and several colleagues founded AQR in January 1998. Each of the firm's principals were formerly at Goldman Sachs, & Co., where Asness, Krail, and Liew, comprised the senior management of the Quantitative Research Group at Goldman Sachs Asset Management (GSAM). At GSAM, the team managed both traditional (managed relative to a benchmark) and non-traditional (managed seeking absolute returns) mandates. The principals formed AQR to build upon the success achieved at GSAM while enabling key professionals to devote a greater portion of their time to research and investment product development. AQR manages assets for some of the largest institutional investors from the United States, Europe and Asia. The Company is based in Greenwich, Connecticut and currently employs in excess of 200 people.
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