Sun, Dec 11, 2016
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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest