Wednesday, 27 May 2015
Last updated 6 hours ago
Jun 22 2011 | 8:53am ET
Bridgewater Associates is in the process of launching one of the biggest new funds ever—a $10 billion vehicle that started trading in November 2010.
According to the Wall Street Journal, the new fund started trading with $2.4 billion in assets and an additional $7.5 billion committed from investors. The paper says roughly half that money represents profits returned to investors from Bridgewater's flagship Pure Alpha fund, the rest is new money from existing Bridgewater clients. A source familiar with the matter told the paper the fund was now closed to new investment.
Commentators see the launch as a further sign of the industry’s recovery from the 2008 financial crisis. Hedge fund assets hit $2 trillion, a record high, in April 2011 according to Hedge Fund Research.
The Westport, Conn.-based Bridgewater said its assets now exceed $100 billion, meaning it has reclaimed its title as the world’s biggest hedge fund.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…