Bridgewater Associates has announced that its subsidiary Bridgewater (China) Investment Management (BCIM) has launched its first onshore Chinese investment product, Bridgewater All Weather China Private Fund No. 1.
According to the Westport-headquartered Bridgewater, the new fund is available to qualified investors in mainland China and is similar in structure to the Offshore All Weather China fund that Bridgewater debuted in April for international investors with a $100,000 minimum investment. The new fund will target clients that include public and corporate pension funds, university endowments and charitable foundations.
Bridgewater received a private securities investment fund manager license from the Asset Management Association of China in June that enabled it to pursue the new onshore fund. Ray Dalio, Bridgewater’s founder and co-chairman, has been doing business in China since 1984 and his company has been managing money for Chinese institutional investors in the global markets in 1993.
“It has been an enormous pleasure to be part of the remarkable evolution of China over the last 34 years,” Dalio said. “This next step excites me because it reflects more good progress in China’s development of its markets and our relationships with them.”