Ray Dalio, founder of hedge fund giant Bridgewater Associates, is to open a branch of his family office in Abu Dhabi as part of the wider expansion of his operations in the Middle East, and the United Arab Emirates (UAE) in particular, according to a report by Bloomberg.

Ray Dalio, founder of hedge fund giant Bridgewater Associates, is to open a branch of his family office in Abu Dhabi as part of the wider expansion of his operations in the Middle East, and the United Arab Emirates (UAE) in particular, according to a report by Bloomberg.

The report cites unnamed sources as revealing that the new office, which will be located in the Abu Dhabi Global Market, the international financial free zone in the UAE capital, adds to existing Dalio Family Office hubs in the US and Singapore. 

The Abu Dhabi Global Market is proving popular with international finance firms having attracted a number of big hedge funds, venture capital firms and crypto companies over the past year. 

Dalio, 73, is building out his family office having stepped back from the day-today running of Bridgewater, which he founded in 1975. The world’s largest hedge fund is now led by chief executive officer Nir Bar Dea.