Bridgewater Founder Dalio Sells His Remaining Stake in Firm (1)

Bridgewater Associates founder Ray Dalio sold the remainder of his stake in the hedge fund and left its board, ending a leadership transition started more than a decade ago.

Bridgewater bought the remaining shares, said a person familiar with the matter who asked not to be identified because the details are private. Separately, the Brunei Investment Agency, a sovereign wealth fund, invested in the company, giving it a nearly 20% stake in the firm, the person said.

The sovereign wealth fund moved an existing investment it had in a Bridgewater fund and used that money to buy its stake in ...