Hedge Funds

AQR focuses on long-only as it closes some hedge funds to new capital


AQR Capital Management has closed all of its arbitrage funds to new investors and is planning in the second quarter to close its Absolute Return Fund, a diversified multistrategy portfolio, to new investors as well.

The moves come as the Greenwich, Conn., firm looks to focus on research, trading and portfolio management.

AQR is also seeking to grow its long-only business while respecting its hedge fund capacity constraints. With $12 billion under management, AQR's long-only business handily surpasses the $8 billion that AQR runs in alternative assets. AQR uses the same team of investment professionals to manage both