Bridgewater founder Ray Dalio palms over management of the agency

Ray Dalio began Bridgewater practically 5 a long time in the past.


Brendan McDiarmid/Reuters

Bridgewater Associates founder Ray Dalio stepped down as co-investment head of the most important American hedge fund agency practically 5 a long time after beginning it in his Manhattan residence.

The transfer, finalized on Friday and introduced on Tuesday after a year-long succession course of, leaves a handful of Dalio associates answerable for the agency, which has $150 billion below administration. Mr. Dalio stays on board the Bridgewater.

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