(Reuters) - Bridgewater Associates, the hedge fund controlled by billionaire investor Ray Dalio, plans to become a partnership in the coming months, giving its top executives more say in running the fund, the New York Times reported on Thursday.
The world’s largest hedge fund, which manages about $160 billion, announced the new partnership model to employees and clients on Thursday, the NYT reported.
Dalio stepped down from the hedge fund’s day-to-day operations nearly a year ago.
Bridgewater was not immediately available for comment.
Reporting by Parikshit Mishra in Bengaluru; Editing by Anil D'Silva