Thu, Feb 23, 2017
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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio