Investing
Bridgewater Exits Ray Dalio Era With Hedge Fund Overhaul, Bets on AI and Job Cuts
- Flagship hedge fund strategy will be capped to boost returns
- Firm to cut 100 jobs, freeing up resources for new initiatives
This article is for subscribers only.
Bridgewater Associates was bound to be different once billionaire founder Ray Dalio no longer commanded the world’s largest hedge fund. Very different, it turns out.
The overhaul began even before Dalio handed off control five months ago, with not-so-subtle tweaks to the infamously odd culture he nurtured. Now, the management team he left in charge, led by Chief Executive Officer Nir Bar Dea, is adopting an ambitious strategy to boost returns, increase profitability and develop new sources of revenue — in what amounts to the biggest shakeup in four decades.