The Teacher Retirement System of Texas has taken an equity stake in one of the world’s largest hedge funds, Bridgewater Associates.
In a deal finalized earlier this week, the approximately $100 billion pension fund will own a small share of Bridgewater, according to a person familiar with the matter.
The equity stake comes as Bridgewater’s founder, Ray Dalio, seeks to reduce his ownership in the Westport, Conn., firm.
Mr. Dalio, who owns about 60% of Bridgewater, may reduce his stake to about 20% over the next 10 years, people familiar with the matter say. Several top executives at Bridgewater have been buying stakes as part of this transition.
Read More: http://blogs.wsj.com/deals/2012/02/17/texas-pension-fund-takes-stake-in-bridgewater/?mod=WSJBlog
Check out our Premium section. 14 day trial is only $1!
You aren’t subscribed?
If you enjoyed this post, you can subscribe for our free content via RSS Feed, Facebook, Twitter You can unsubscribe at any time, and your information will not be sold to any third parties.
Related posts:
- Bridgewater Associates Returns 23% in 2011
- Bridgewater Associates ‘Crisis to Last a Long Time’
- Sequoia Fund Reduces It’s Berkshire Hathaway Stake
- Is Tudor or Moore Capital the Secret Hedge Fund Buying Italian Debt?
- Prem Watsa Sees Value in $Rimm; Doubles his Stake
- Why Did Berkshire Hathaway Signifcantly Reduce its Stake in Exxon Mobil?
- With Giant Pension Debts, California Is Screwed [STUDY]
