The Brunei Investment Agency (BIA) has bought a nearly 20% stake in Bridgewater Associates using proceeds from the sale of part of its holdings in a fund managed by the US hedge fund firm , according to Bloomberg, citing a source familiar with the matter.
BIA, the sovereign wealth fund of Brunei Darussalam, remains an investor in all of Bridgewater’s funds, the news agency says in a report on August 4.
It says Bridgewater, founded by billionaire Ray Dalio, has been selling stakes to institutions for more than a decade, including the Teacher Retirement System of Texas, the Ontario Municipal Employees Retirement System, Singapore’s GIC Pte Ltd and the International Monetary Fund.
Dalio recently completed his exit from the firm that he started 50 years ago, selling his remaining shares and resigning from the board. Bridgewater had US$98 billion of assets under management as of end-2024.
BIA does not disclose its asset data.
Spokespersons for the wealth fund and Bridgewater did not immediately respond to questions from Asia Asset Management.
