Revenues at the UK arm of AQR Capital Management surged by nearly two-thirds last year as the $113 bn US hedge and mutual fund manager's growth push in Europe began to pay off.

AQR Capital Management LLC was launched in 1998 by Cliff Asness and three former Goldman Sachs colleagues, and has since expanded from a research-driven hedge fund manager into an alternatives manager handling assets worth $113 billion as of the end of June.