{{Short description|Investment firm based in Chicago}} {{Use mdy dates|date=December 2023}}
{{Infobox company | name = LSV Asset Management | logo = LSV Asset Management.png | image = | image_caption = | image_size = | type = Private | industry = Investment Management | foundation = {{Start date and age|1994|}} | founders = {{ubl |Josef Lakonishok |Andrei Shleifer |Robert W. Vishny }} | location = 155 North Wacker, Chicago, Illinois, U.S. | key_people = Josef Lakonishok (CEO) | aum = US$96 billion (June 2024) | equity = | num_employees = 43 (2024) | owners = SEI Investments Company (39%)<br>Josef Lakonishok (25%) | homepage = {{URL|www.lsvasset.com}} | footnotes = <ref name="Form ADV">{{cite web |title=Form ADV |url=https://reports.adviserinfo.sec.gov/reports/ADV/109918/PDF/109918.pdf |website=SEC |access-date=January 7, 2023 |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107103319/https://reports.adviserinfo.sec.gov/reports/ADV/109918/PDF/109918.pdf |url-status=live }}</ref><ref name="Howard">{{cite web |title=HOWARD COUNTY RETIREMENT PLANS |url=https://www.howardcountymd.gov/sites/default/files/media/2020-07/2020%2007%2030%20Howard%20County%20Meeting%20Materials%20-%20OPEN%20SESSION.pdf |archive-url=https://web.archive.org/web/20211228225300/https://www.howardcountymd.gov/sites/default/files/media/2020-07/2020%2007%2030%20Howard%20County%20Meeting%20Materials%20-%20OPEN%20SESSION.pdf |access-date=January 7, 2023|archive-date=December 28, 2021 }}</ref> }}
'''LSV Asset Management''' (LSV) is an American quantitative investment management firm headquartered in Chicago. The firm provides equity management services for institutional investors.
== Background ==
LSV was founded in 1994 by Josef Lakonishok, Andrei Shleifer and Robert W. Vishny.<ref name="Howard" /><ref name=":0">{{Cite web |date=September 27, 2007 |title=Dailyii.com - How Harvard lost Russia |url=http://www.dailyii.com/article.asp?PositionID=&ArticleID=1020662&p=33 |access-date=January 7, 2023 |archive-url=https://web.archive.org/web/20070927222354/http://www.dailyii.com/article.asp?PositionID=&ArticleID=1020662&p=33 |archive-date=September 27, 2007 }}</ref><ref name=":1">{{Cite web |date=August 5, 2006 |title=LSV locks down funds |url=https://www.chicagobusiness.com/article/20060805/ISSUE01/100026261/lsv-locks-down-funds |access-date=January 7, 2023 |website=Crain's Chicago Business |language=en-US |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107113353/https://www.chicagobusiness.com/article/20060805/ISSUE01/100026261/lsv-locks-down-funds |url-status=live }}</ref><ref name=":2">{{Cite web |title=Using Behavioral Finance to Better Understand the Psychology of Investors |url=https://www.institutionalinvestor.com/article/b150qd3bzzzl2p/using-behavioral-finance-to-better-understand-the-psychology-of-investors |access-date=January 7, 2023 |website=Institutional Investor |language=en-gb |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107115126/https://www.institutionalinvestor.com/article/b150qd3bzzzl2p/using-behavioral-finance-to-better-understand-the-psychology-of-investors |url-status=live }}</ref> The three of them were working in academia where they were Professors in the fields of Economics and Finance.<ref name="Howard" /><ref name=":0" /><ref name=":1" /><ref name=":2" /> Lakonishok is a professor (now retired) at University of Illinois at Urbana-Champaign while Shleifer and Vishny are professors at Harvard University and University of Chicago respectively.<ref name=":2" /><ref name=":3">{{Cite web |title=Analyze This |url=https://www.forbes.com/global/2002/1111/068asia.html |access-date=January 7, 2023 |website=Forbes |language=en |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107115124/https://www.forbes.com/global/2002/1111/068asia.html |url-status=live }}</ref> They focused on the field of Behavioral Finance.<ref name="Howard" /><ref name=":0" /><ref name=":1" /><ref name=":2" /> LSV is the first letter of each co-founders surname.<ref name=":3" /> SEI Investments Company backed the firm in exchange for a 51% stake.<ref name="Howard" /><ref name=":1" /><ref>{{Cite web |last=Lucchetti |first=Aaron |date=December 6, 1999 |title=SEI Is Building Its Assets; It's Just Hard to Say How |url=https://www.wsj.com/articles/SB944491913365118884 |access-date=January 7, 2023 |website=WSJ |language=en-US |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107111605/https://www.wsj.com/articles/SB944491913365118884 |url-status=live }}</ref><ref>{{Cite web |date=December 15, 2006 |title=SEI Investments awaiting payoff from spending on new strategies |url=https://www.pionline.com/article/20060220/PRINT/602200710/sei-investments-awaiting-payoff-from-spending-on-new-strategies |access-date=January 7, 2023 |website=Pensions & Investments |language=en |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107111602/https://www.pionline.com/article/20060220/PRINT/602200710/sei-investments-awaiting-payoff-from-spending-on-new-strategies |url-status=live }}</ref>
In 2003, Shleifer sold his entire ownership of the firm and retired from firm to focus on his academic career.<ref name=":1" /><ref name=":2" /> In 2006, Vishny reduced his ownership of the firm to 6% and retired from the firm at the end of 2007.<ref name=":1" /><ref name=":2" /><ref>{{Cite web |date=June 20, 2007 |title=THE PRUDENTIAL SERIES FUND |url=https://www.sec.gov/Archives/edgar/data/814679/000006759007000168/astpsfpmslsv62007.htm |access-date=January 7, 2023 |website=www.sec.gov |archive-date=January 7, 2023 |archive-url=https://web.archive.org/web/20230107113343/https://www.sec.gov/Archives/edgar/data/814679/000006759007000168/astpsfpmslsv62007.htm |url-status=live }}</ref>
LSV is an active manager that uses a quantitative approach to value investing in the stock market.<ref name="Howard" /><ref name=":2" />
In October 2024, four former executives sued LSV who claim they were deprived of more than $100 million in LSV equity when the firm forced them to sell their equity at a significantly reduced price.<ref>{{Cite web |last=Katz |first=Michael |date=2024-10-17 |title=LSV Asset Management Sued by Former Execs Over $100M in Lost Equity |url=https://www.ai-cio.com/news/lsv-asset-management-sued-by-former-execs-over-100m-in-lost-equity/ |access-date=2025-04-29 |website=Chief Investment Officer |language=en}}</ref>
The majority of the firm is owned by current and former employees while a minority stake is held by SEI Investments Company.<ref name="Howard" />
==References== {{Reflist}}
==External links== * {{Official website| https://www.lsvasset.com}} {{authority control}}
Category:1994 establishments in Illinois Category:Financial services companies established in 1994 Category:Investment management companies of the United States Category:Privately held companies based in Illinois Category:Asset management companies