Hedge fund billionaire Ray Dalio’s Bridgewater Associates has opened a new office in Singapore to further build on its existing relationships in the Asia Pacific region.
Bridgewater Associates has opened a new office in Singapore’s central business district, according to a statement, after recently receiving a fund management license from the local regulator.
The office will be overseen by Eurasia head of client services Chip Packard and head of Bridgewater Associates (Singapore) Margaret Wang. Under their leadership will be a 12-strong team made up of both existing employees from its US headquarter as well as new local hires in Singapore.
«The world has increased in complexity and, in turn, so have the challenges our clients are facing,» said Bridgewater president and chief commercial officer Kyle Delaney. «Our Singapore office has been many years in the making and allows us not only seek to provide best-in-class partnership to our clients in the region, but also to our global client base that will benefit from our deep understanding of this important market as a result of our presence here.»
Asia Presence
Bridgewater’s new office marks its latest expansion in the region which first started with its Beijing office in 2011. In 2016, it followed up with the establishment of operations in Shanghai under the entity Bridgewater (China) Investment Management.
Bridgewater is considered the largest hedge fund in the world with approximately $150 billion in assets under management. Asian monies are understood to account for more than one-third of the business.
In addition to the hedge fund he founded, Ray Dalio also opened his Dalio Family Office in Singapore in 2020 under the leadership of ex-J.P. Morgan private banker Janine Racanelli alongside former EY executive Tom Waller.
