Bridgewater Associates told its investors that it will launch a new hedge fund this year, and had sold another minority equity stake in the firm to an unidentified buyer to help ensure its long-term viability. Bridgewater described its new fund, All Weather Major Markets, as a variation of its All Weather strategy that seeks to perform in any economic environment. In a Jan. 24 year-end report to investors, the hedge-fund firm said All Weather Major Markets would help ensure that its $65 billion All Weather fund doesn’t grow too large, potentially hurting its returns. All Weather returned 15.3% in 2012, gross of fees, Bridgewater wrote. In the same 304-page report, Bridgewater said it had completed a deal at the end of last year to sell a nonvoting stake in the firm to an outside investor, marking the fourth time the firm made such a transaction. The firm didn’t identify the investor or the size of the stake. “The proceeds of these transactions have allowed us to create a sustainable capital base that is independent of Ray, while remaining entirely employee-controlled,” the Jan. 24 report said, referring to Bridgewater founder Ray Dalio. [WSJ]
- 27 Nov 2013 at 1:30 PM
The holiday season is nigh and you still haven’t shopped. While you’re dreaming only of sugar plum fairies bearing fat bonuses, you don’t the time to mingle with the riff raff at some big box nightmare. Dealbreaker is here to help. Behold the 2013 Dealbreaker Holiday Gift Guide, chockfull of descriptors like “custom,” “gourmet,” “housecleaning,” and “DB swag.”
Click through to check out all of our gift choices for the hardcore capitalist in your life.
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