Thu, Dec 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Texas Teacher pension fund buys $250m stake in hedge fund Bridgewater Associates

Monday, February 20, 2012

From Precy Dumlao, Opalesque Asia – The $100bn Texas Teacher Retirement System and Bridgewater Associates have reached an agreement allowing the Texas pension system to acquire a minimum stake worth $250m in the world’s largest hedge fund run by Ray Dalio, various media reports said.

According to The Journal, the Texas pension’s board on Thursday approved the deal at meeting. The sale to Texas also comes at a time when Dalio was reported to be trying to reduce his ownership in Bridgewater.

The report said Dalio is planning to reduce his stake in the hedge fund firm to about 20% over the next 10 years from the current 60% ownership. It was also revealed that Bridgewater executives have been increasing their shareholdings in the company as part of the implementation of Dalio’s eventual minority position.

A letter released by Bridgewater on Friday told investors that the deal between the hedge fund and Texas Teachers pension system was in line of a "10-year plan to transition Bridgewater from being run by Ray, to being independent of Ray."

However, Bridgewater clarified that Dalio will not be leaving the firm or will change his involvement in the company despite his plan to reduce his stakes.

Ted Melina Raab, a senior legislative agent for the Texas American Federation of Teachers in Austin, Texas, has confirmed that indeed the ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar