Dalio sells remaining stake in Bridgewater Associates and steps down from board

PANews reported on August 1st that Bridgewater Associates founder Ray Dalio sold all remaining shares in the hedge fund and resigned from the board of directors. Bridgewater reportedly informed clients in a letter last week that it had purchased Dalio's remaining shares. Separately, sources familiar with the matter stated that the Brunei Investment Agency, a sovereign wealth fund, had invested in the company, acquiring a nearly 20% stake. Some sources familiar with the matter stated that the sovereign wealth fund, a long-term investor in Bridgewater, shifted funds from one of its funds to Bridgewater's stock. One of the sources familiar with the matter stated that the Brunei fund is currently one of Bridgewater's largest shareholders.