CEO Nir Bar Dea is now at the helm of Bridgewater.

Bridgewater Associates, the world’s largest hedge fund, is adopting a new strategy under the leadership of CEO Nir Bar Dea, following its founder Ray Dalio’s departure five months ago. Bar Dea’s strategy aims to improve returns, increase profitability, and develop new sources of revenue. It is allocating more money and talent to AI and machine learning and reorganizing itself to eliminate about 100 jobs.

The firm is setting up a new team that will develop investment tools powered by artificial intelligence and machine learning.

The firm is also capping the size of its flagship funds and expanding into Asia, equities, and doubling down on sustainability. (Bloomberg)

Bridgewater’s leadership team aims to attract billions of dollars in assets for its new initiatives to reduce its dependence on Pure Alpha and All Weather strategies.

The firm’s new direction is partly the result of the leadership transition that began in 2020, when Bridgewater established an oversight committee for its investment decisions.

The shifts also reflect an evolving landscape in the hedge fund industry, including the rise of multi-strategy behemoths such as Citadel and Millennium Management, the boom in sustainable finance, and the emergence of technologies such as generative AI and quantum computing.

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