By Carolina Mandl
NEW YORK (Reuters) -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 was thrilled to be passing along Bridgewater to the next generation.
“Above all else, I am thrilled about it because I love seeing Bridgewater alive and well without me—even better than alive and well with me,” he said.
The source, who spoke on condition of anonymity because the information was not public, said Dalio will step down as a board member as well.
After Dalio sold his stake to Bridgewater, the Brunei Investment Agency redeemed money invested in the firm’s funds and bought a minority stake in the hedge fund manager, the source added.
Brunei’s sovereign fund did not immediately respond to a request for comments on the transaction.
Co-Chief Investment Officer Bob Prince is now Bridgewater’s biggest individual partner, while the firm is controlled by a group of employees, the source said.
The Wall Street Journal first reported Dalio’s sale of his stake in Bridgewater and the Brunei sovereign fund’s investment earlier on Thursday.
Bridgewater Associates’ main funds ended the first half of 2025 with gains, with the flagship Pure Alpha 18% volatility posting a 17% return in the first half of 2025.
(Reporting by Carolina Mandl in New York; Editing by Chris Reese and Jamie Freed)
