Cliff Asness: Biography, Career, and Business Insights

Cliff Asness’s Profile Summary

Company	AQR Capital Management
Position	Co-Founder, Managing Principal, and Chief Investment Office
Source of wealth	Hedge fund management via AQR Capital Management Factor-based investing and quantitative strategies
Also known as	Academic and Researcher Philanthropist
Age	58
Education	University of Pennsylvania – Bachelor of Science in Economics, Bachelor of Science in Engineering (summa cum laude) University of Chicago – MBA with high honors, Ph.D. in Finance
Citizenship	United States
Residence	Greenwich, Connecticut
Family	Wife:Laurel Elizabeth Fraser, four children
Website, Social Media	https://www.aqr.com/Insights/Perspectives https://x.com/cliffordasness https://www.linkedin.com/in/cliff-asness/

Cliff Asness’s biography

Clifford Scott Asness, born on October 17, 1966, in Queens, New York, is a prominent figure in the world of finance, particularly known for his work in quantitative finance. After earning degrees in economics and engineering from the University of Pennsylvania, he pursued his MBA and Ph.D. in Finance from the University of Chicago, where he was a student and teaching assistant to Eugene Fama, a Nobel laureate in Economics. Asness began his career at Goldman Sachs as the director of quantitative research before co-founding AQR Capital Management in 1998 alongside his colleagues from Goldman Sachs.

AQR is recognized for its innovative approaches to factor-based investing and quantitative strategies, managing over $100 billion in assets across various funds, including hedge funds and mutual funds. Asness is also a prolific researcher, having authored numerous influential papers in academic journals, earning multiple awards for his contributions to financial theory.

How did Cliff Asness make money?

Cliff Asness makes money in the following areas:

Hedge fund management via AQR Capital Management Factor-based investing and quantitative strategies
What is Cliff Asness net worth?

As of 2025, Cliff Asness’s net worth is estimated to be $2.9B.

What is Cliff Asness also known as?

Cliff Asness is not only an influential hedge fund manager but also a prominent academic contributor, with papers published in top finance journals. His work has influenced quantitative finance, particularly in factor-based investing and value investing. Asness is also a philanthropist, having made significant donations to causes related to education and financial research.

Prominent achievements of Cliff Asness

Co-founded AQR Capital Management, one of the largest hedge funds globally.
Awarded multiple times for his academic research, including the Bernstein Fabozzi/Jacobs Levy Award and the Graham and Dodd Award.
Named one of the 50 Most Influential People in Global Finance by Bloomberg Markets

What are Cliff Asness’s key insights?

Cliff Asness is a staunch advocate of factor-based investing, which targets specific drivers of returns across asset classes. His philosophy emphasizes the importance of evidence-based strategies, transparency, and systematic approaches to investing, often challenging market inefficiencies through his academic and professional work

Cliff Asness’s personal life

Clifford Asness is married to Laurel Elizabeth Fraser and has four children

Useful insights

Understanding market forces

In my experience, to truly succeed as an investor, it’s essential to understand the driving forces behind market behavior. Market movements aren’t random—they’re influenced by a range of economic theories and dynamics. The following books provide valuable insights into these forces, offering a deeper understanding of how global financial markets operate and what shapes their trends.

Nassim Nicholas Taleb – "The Black Swan"
- Summary:
  
  Taleb explores the concept of rare, unpredictable events—so-called "Black Swans"—that can have massive impacts on markets and society. These events are often overlooked by traditional risk management models, leading to devastating consequences when they occur. Taleb illustrates how these unpredictable shocks shape our world, often more than gradual, expected changes.
- Why read it:
  
  This book challenges conventional thinking about risk and uncertainty, showing that many major historical and financial events were "Black Swans." It's a vital read for investors who want to build resilience in the face of market volatility.
John Maynard Keynes – "The General Theory of Employment, Interest, and Money"
- Summary:
  
  Keynes revolutionized economics by focusing on total demand within an economy and its effect on output and inflation. His theory suggested that government intervention could stabilize economic cycles through fiscal and monetary policy. The book also explains the consequences of under-consumption and the role of interest rates in managing economic stability.
- Why read it:
  
  For investors interested in macroeconomic trends and policy impacts, Keynes’ work is essential. Understanding the Keynesian framework can help investors predict how government actions might influence market performance.