Bridgewater Launches More Liquid Version of Pure Alpha Fund

Dec 15 2010 | 1:30pm ET

Ray Dalio's Bridgewater Associates, the world’s largest hedge fund, has launched the Bridgewater Pure Alpha Major Markets II fund with $204 million raised from existing investors, according to regulatory filings.
 
The fund is a more liquid version of the company’s highly successful Pure Alpha hedge fund, the size of which has always been strictly limited.
 
The Westport, Conn.-based firm, which manages $75 billion, launched the new vehicle to give current investors in Pure Alpha an opportunity to reinvest their money in the same strategy without exceeding the existing fund’s capacity.
 
What the fund will not do is provide opportunities for new investors. Discussing the Pure Alpha Major Markets fund in August, Bridgewater co-chief investment officer Robert Prince told Pensions & Investments: “We are not looking to raise assets and we are otherwise closed to new business. This is a good way to create a limited accommodation to existing clients whose PA assets have risen as a result of good performance.”

Calls to Bridgewater were not returned by press time.


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