Bridgewater to launch new hedge fund: WSJ

Mon Feb 4, 2013 8:32pm EST

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(Reuters) - The world's largest hedge fund, Bridgewater Associates, told investors it will launch a new hedge fund this year, and that it had sold a minor equity stake in the firm to an unidentified buyer, the Wall Street Journal reported on Monday.

The new fund, All Weather Major Markets, will help prevent Bridgewater's $65 billion All Weather Fund from growing too large, the Journal said citing a year-end report to investors the firm issued January 24.

All Weather returned 15.3 percent in 2012, gross of fees, Bridgewater said in the report.

Bridgewater also sold a non-voting stake to an investor, but did not disclose either the size of the stake or the buyer, the Journal said, citing the same report.

Bridgewater, the $120 billion hedge fund run by hedge fund titan Ray Dalio, was not immediately available for comment outside regular business hours.

(Reporting by Tej Sapru in Bangalore; Editing by Eric Meijer)

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