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’AQR said to ditch IPO as investors depart
AQR Capital Management – the quantitative hedge fund group run by former Goldman trader Cliff Asness – has been forced to shelve plans for an IPO.
According to the New York Post, AQR saw several large investors pull money from the firm’s flagship $38bn fund after it posted poor figures for October.
Bullish US hedge fund may sell stake
Renaissance Technologies, the $30bn hedge fund run by billionaire mathematician James Simons, is considering selling a minority stake to a big outside investor or group of investors in coming weeks. The move suggests that Renaissance may believe the crisis in the US credit markets will be short-lived.
A Quant writes….
Thanks to Dealbreaker, another explanation from the computer-loving horse’s mouth. It’s AQR’s missive to investors.
August 10, 2007
Dear Investor,
Many of you may have heard rumors concerning us over the last few days.
Press on regardless – AQR eyes float
With the backdrop of widespread market turmoil, it looks a brave move. Just as the Times was reporting that nearly $38bn of planned US floats are hanging in the balance, AQR, one of the world’s largest hedge funds,
JPMorgan, Goldman, land Apollo IPO roles
JPMorgan and Goldman Sachs have lined up key roles advising Apollo Management on its expected IPO, the first signs of a comeback by other Wall Street banks after the early dominance of Morgan Stanley and Citigroup in the battle to underwrite private equity floats.