Texas Pension Fund Takes Stake in Bridgewater

Texas Pension Fund Takes Stake in BridgewaterThe 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



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