Reuters- AQR Capital Management LLC, one of the world’s largest hedge fund managers, has received commitments from new and current investors to pump about $1 billion into several of its funds, theWall Street Journal reported on Tuesday, citing an unnamed source.
AQR, which manages about $38 billion, has been hurt by recent market volatility.
The infusion comes as Goldman Sachs Group (GS.N: Quote, Profile, Research) on Monday announced that it and several wealthy investors would pour $3 billion into Global Equity Opportunities fund, which plunged by 30 percent last week.
Last month AQR was reported to have filed plans for an initial public offering that would raise $500 million. Greenwich, Connecticut-based AQR, which stands for Applied Quantitativ Research, was founded in 1998 by four former Goldman Sachs traders.
