Bridgewater Associates

Bridgewater Associates, LP is an American investment management firm founded by Ray Dalio in 1975. The firm serves institutional clients including pension funds, endowments, foundations, foreign governments, and central banks. In 2025, Bridgewater's flagship fund Pure Alpha climbed 33%, its best full-year performance. The firm began as an institutional investment advisory service, graduated to institutional investing, and pioneered the risk parity investment approach in 1996.