Ray Dalio-founded hedge fund firm Bridgewater Associates has promoted Joanna Alpert, general manager for China, to lead its new Total Portfolio Strategies unit, which will develop and manage new investment products, according to a report by Reuters.
Alpert’s promotion was revealed in a letter by Co-Chief Investment Officer Karen Karniol-Tambour addressed to employees, which said that Alpert was now tasked with “building this key part of Bridgewater’s business” and highlighted Alpert’s experience in China over the past six years, where Bridgewater stands as the largest foreign hedge fund.
According to another Reuters report, Bridgewater was on track to nearly double its AUM in China to RMB40bn in January, compared to the previous year.
In her new role, Alpert will relocate from Shanghai to the US and report directly to Karniol-Tambour. Alpert originally joined Bridgewater in 2005 and left in 2008, returning in 2018 to oversee its Chinese operations.
Her promotion is part of Chief Executive Nir Bar Dea’s recent reorganisation, which has split Bridgewater’s operations into two units: Alpha Engine, which focuses on the firm’s flagship fund Pure Alpha; and Total Portfolio Strategies, which encompasses the All Weather funds and the Defensive Alpha fund.
Last year, Bar Dea stated that Bridgewater was bolstering its presence in Asia through its Singapore office and identified growth opportunities in equities and sustainability-focused products.
