Tuesday, September 15
NEW YORK - Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to investors, while Brunei's sovereign fund acquired a minority stake in the firm, a source said. "We wanted to update you that Bridgewater recently repurchased the last remaining ownership shares held by Dalio-related entities," Bridgewater CEO Nir Bar Dea and Co-Chair Mike McGavick said in a July 21 letter to clients seen by Reuters. The transaction marks years-long transition at the world's largest hedge fund, with $92.1 billion in assets under management. Dalio, 76, resigned from his CEO position in 2017 and handed over control of Bridgewater to a new generation of investors in 2022. Dalio said in a social media post on Thursday that he wa
