AQR Capital Management, the firm that manages AQR funds, was founded by and is primarily owned by its founding principals: Cliff Asness, David Kabiller, Robert Krail, and John Liew, alongside other employees.
Understanding AQR's Ownership Structure
AQR Capital Management is a private investment firm. As is common with such entities, the ownership largely resides with its key individuals, particularly those who established the company and continue to lead it.
AQR was founded by a core group of individuals in New York City, who laid the groundwork for the firm's operations and its first product, a hedge fund. The founding team included:
- Cliff Asness
- David Kabiller
- Robert Krail
- John Liew
These individuals are recognized as the Founding Principals of AQR Capital Management. Alongside them, the firm began with an initial team of 10 employees. In a privately held firm like AQR, the founding principals and other key employees typically hold the ownership stake.
The Founding Principals of AQR
| Principal Name | Role at Founding |
|---|---|
| Cliff Asness | Founding Principal |
| David Kabiller | Founding Principal |
| Robert Krail | Founding Principal |
| John Liew | Founding Principal |
The ownership structure of AQR Capital Management reflects its origins as a firm built and grown by its principals and employees, distinguishing it from publicly traded companies or those owned by a single parent corporation.
