How Dalio's Bridgewater wooed the pension funds

Thu Apr 1, 2004



The quantitative shop now has more institutional money than anyone else writes Iain Jenkins

Ray Dalio doesn't talk like a hedge fund manager. He is far too theoretical for that, peppering his description of his business with references to 'alpha', 'beta' and 'benchmarks.' Yet he has built Bridgewater into one of the biggest and fastest growing hedge fund groups in the world with over $8 billion of assets - and there is no sign of the growth coming to an end any time soon.

Maybe it isn't that surprising that Dalio doesn't sound like a hedge fund manager, because his company has its origins firmly in the traditional investment world and is managing close to $63 billion of institutional assets. The real surprise is that he doesn't sound like a traditional investment manager either. Instead, he uses a hybrid language somewhere between the two worlds. And that is his edge and...

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