Richard Driehaus

Richard Herman Driehaus (/ˈdriː.haʊs/) (born 1942 in Chicago, Illinois, United States) is an American fund manager, businessman and philanthropist. He is the founder, chief investment officer, and chairman of Driehaus Capital Management LLC, based in Chicago. In the year 2000, he was named Barron's "All-Century" team of the 25 individuals who have been the most influential within the mutual fund industry over the past 100 years. His firm had $10.9 billion in assets under management as of the end of March 2015. He is often credited as the father of momentum investing, although he was not the first to implement the strategy. Driehaus explains "the momentum investor has confidence that a stock that is high can head even higher. We rarely invest in stock because it's cheap and hope for a turnaround." This strategy reportedly delivered compound annual returns of 30% for Driehaus Capital Management in the 12 years after it was set up in the 1980s.

Driehaus attended high school at St. Ignatius College Prep and received his undergraduate (1965) and master's (1970) degrees in business from DePaul University. He also received an honorary doctorate degree from DePaul in 2002.

After graduation, Driehaus was an assistant to the director of research at local broker Rothschild & Co. From 1968 through 1973, Driehaus developed research ideas for the institutional trading department at A.G. Becker & Co. In 1973, he became Director of Research for Mullaney, Wells & Co. In 1976, he became Director of Research and a money manager for Jesup & Lamont. In 1979, he set up Driehaus Securities, a research broker that provided ideas to a select group of accounts, followed by Driehaus Securities LLC in 1980.

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