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Bridgewater Associates Raises New Cash For Flagship Fund

Ray Dalio

The world’s largest hedge fund manager, founded by Ray Dalio (pictured), is raising money for its flagship Pure Alpha fund for the first time in seven years.

Bridgewater Associates' cash infusion follows the $70B fund’s unusual poor performance this year—it lost 9% through August, marking its first losing performance in 15 years. The new money will pump the fund back to its optimal size, according to a person with information on the matter, the Wall Street Journal reports.

Pure Alpha bets on and against world markets using a macro investment strategy and has returned an average 12% annually since 1991. [WSJ]