Ray Dalio steps down as Bridgewater’s co-CIO

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(Reuters) -Bridgewater Associates said on Tuesday billionaire founder Ray Dalio had stepped down from his role as one of the hedge fund’s co-chief investment officers.

Dalio – who built Bridgewater into the world’s biggest hedge fund with $150 billion of assets under management – has sold off his majority stake but remains a “meaningful” owner, the company said.