16.9 C
Los Angeles
Thursday, December 7, 2023

Ray Dalio’s Bridgewater reportedly raising millions for new China fund

Must read


Bridgewater Associates Chairman Ray Dalio attends the China Development Forum in Beijing, China March 23, 2019.

Thomas Peter | Reuters

BEIJING — American hedge fund manager Ray Dalio is launching a new China fund through a local subsidiary, according to a report in China’s Securities Times, citing sources.

The fund aims to raise more than 3 billion yuan ($468.8 million), according to the report on Tuesday.

Dalio’s Bridgewater Associates is the largest hedge fund in the world, with $223 billion in assets under management as of a July 9 filing with the U.S. Securities and Exchange Commission. Over half, or nearly 59%, of those assets belonged to non-U.S. clients, according to the document.

In 2018, the firm’s Shanghai-based wholly-owned subsidiary, Bridgewater (China) Investment Management, launched its first onshore China product for investors in the mainland.

Read more about China from CNBC Pro



Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article