Bridgewater sets up presence in Singapore, aims to hire local talent
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Genevieve Cua
BRIDGEWATER Associates, a US$150 billion hedge fund founded by billionaire Ray Dalio, has established an office in Singapore, signalling its intent to further expand and deepen its investment research and client servicing activities in Asia.
Bridgewater is the world’s largest hedge fund, catering to institutions including pension funds, sovereign wealth funds, third-party wealth managers and family offices. Asian monies are understood to comprise more than a third of the business. The firm has catered to Asia-Pacific institutions, including those in Singapore, for nearly 3 decades.
The Singapore office currently has 12 staff; 2 are local hires. The office is headed by Chip Packard, head of client service for Eurasia. On-the-ground operations will be overseen by Margaret Wang, head of Bridgewater Associates (Singapore). The firm holds a capital markets services licence here. It employs a total of about 1,300 globally.
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