AQR Gets $350 Million for Fund Pitching Long-Short ESG Bets (1)

A fund launched by AQR Capital Management LLC is about to give investors a taste of how well ESG can be combined with the goal of generating market-beating returns.

The quant firm co-founded by hedge fund veteran Cliff Asness has now attracted about $350 million for its Adaptive Equity Market Neutral UCITS Fund, according to data compiled by Bloomberg. The fund, whose launch was announced last month, is designed to short stocks that AQR judges have poor environmental, social and governance profiles and invest in higher-scoring ESG stocks.

“It’s not that we think being long any ESG characteristic and ...