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His Bridgewater hedge firm and Lyxor will offer climate-friendly investing vehicle in Europe in 2021.
Ray Dalio’s hedge fund firm, Bridgewater Associates, is launching a sustainability strategy in Europe, upping its exposure to the environmental, social, and governance (ESG) investing trend.
Bridgewater, the world’s largest hedge operation with $140 billion in assets, aims to open a sustainable fund next year. Dalio is no stranger to ESG efforts: In 2018, he and fellow billionaire Mike Bloomberg announced a marine biology venture focused on ocean conservation. Bridgewater previously has advised clients on ESG investing.
The Dalio firm has partnered with Lyxor Asset Management, a subsidiary of French bank Societe Generale, and will offer ESG investments in Europe via a UCITS (Undertakings for Collective Investment in Transferable Securities) structure, a cross between a mutual fund and a hedge fund.