Ray Dalio bids farewell: Bridgewater founder sells final stake

Ray Dalio, the legendary investor and founder of Bridgewater Associates, has officially sold his remaining stake in the firm. This marks the final step in a multi-year leadership transition at the world’s largest hedge fund. (Source: Reuters)

In a letter dated July 21, Bridgewater CEO Nir Bar Dea and Co-Chair Mike McGavick informed clients that the company had repurchased the last remaining ownership shares held by entities related to Dalio. The move finalizes Dalio’s financial exit from the firm.

Dalio began stepping back from Bridgewater in 2017, when he resigned as CEO. He fully handed over control to a new generation of investors by 2022. With this latest development, he is also stepping down from the company’s board, ending his formal association with the firm he built over five decades.

In a social media post, Dalio expressed his satisfaction with the transition: “I love seeing Bridgewater alive and well without me—even better than alive and well with me,” he wrote, signaling confidence in the firm’s future leadership.

According to sources, the Brunei Investment Agency redeemed its money from Bridgewater’s funds and subsequently acquired a minority stake in the hedge fund manager. While the sovereign fund hasn’t publicly commented, the investment reflects new international interest in Bridgewater’s future.

Following Dalio’s exit, Co-Chief Investment Officer Bob Prince has become the firm’s largest individual partner. Operational control of Bridgewater now rests with a group of employee-partners, continuing the firm’s transition to shared internal leadership.

With $92.1 billion in assets under management, Bridgewater remains the world’s largest hedge fund. Dalio’s complete exit marks the end of an era and the full handoff to a new generation of leaders poised to guide the firm into its next chapter.


(Disclaimer: This slideshow has been sourced from Reuters)