Bridgewater Associates Chairman Ray Dalio attends the China Development Forum in Beijing, China on March 23, 2019.
Thomas Peter | Reuters
BEIJING – US hedge fund manager Ray Dalio has launched a new fund for China through a local subsidiary, according to a report in China’s Securities Times citing sources.
The fund aims to raise more than 3 billion yuan ($468.8 million), according to the report on Tuesday.
Dalio’s Bridgewater Associates is the world’s largest hedge fund, with $223 billion in assets under management as of the July 9 filing with the US Securities and Exchange Commission. According to the document, more than half of these assets, or roughly 59%, are owned by non-US customers.
In 2018, Bridgewater (China) Investment Management, the wholly-owned subsidiary of the Shanghai-based company, launched the first domestic product in China for mainland investors.