The billionaire investor, who is 74, doesn’t necessarily want to come back to run the firm he founded 50 years ago. Instead, he has repeatedly brought up the idea of starting a new fund within Bridgewater that he hopes would help improve the firm’s investment returns, four of the people said. Bridgewater’s main fund has been on a downward slide since Mr. Dalio’s retirement.
Some of Bridgewater’s top staff and board members, including its chief executive, Nir Bar Dea, whom Mr. Dalio appointed, have repeatedly told him that they will quit if he interferes. They fear that Mr. Dalio might use the proposed fund as a way to come back and reassert control, according to people briefed on internal deliberations but not authorized to speak publicly.
Mr. Bar Dea has told colleagues that he feels he has two jobs: to manage Bridgewater and to manage Mr. Dalio, according to two people with knowledge of those conversations.
Source: Billionaire Ray Dalio Pushes for Return to Hedge Fund in Succession Clash – The New York Times
