Latest News

Ray Dalio’s Bridgewater is reportedly looking to raise $469 million in new China fund

0

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.

Bridgewater China did not immediately respond to a CNBC request for comment on the news report.

Dalio is popular in China and has frequently spoken about investment opportunities in the country.

In the wake of Beijing’s regulatory crackdown in July, he encouraged global investors to keep their money in China as an important part of their portfolio, along with U.S. holdings.

Will China’s new rules actually boost some stocks? Morgan Stanley says yes, and it’s naming them

Previous article

Biden and Xi agree to look at possible arms control talks, says Biden advisor

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News