Bridgewater's Dalio calls report about feud with Jensen overblown
By Jennifer Ablan and Lawrence Delevingne
NEW YORK (Reuters) - Ray Dalio, founder of Bridgewater Associates LP, the world's largest hedge fund, said on Friday that a Wall Street Journal story about a dispute with his heir apparent, Greg Jensen, was overblown.
The newspaper reported that Dalio and Jensen had gone as far as to call for a dozen senior employees and stakeholders to vote on their character and conduct in a bid to resolve the dispute.
"The article is a sensationalistic mischaracterization of what is going on," Dalio said in response to a query from Reuters.
"Greg and I have had lots of disputes over the last 20 years, and what's great is that we have a systematic process for working ourselves through them," he added in a statement.
The Wall Street Journal declined to comment.
Dalio, who founded Bridgewater in 1975, was specifically questioning whether or not Jensen had "integrity" - defined in a 123-page treatise written by Dalio as never saying something about a person that you wouldn't tell the person directly, the Journal said.
Dalio is chairman and co-chief investment officer of Bridgewater, which has $154 billion in assets under management.
For his part, Jensen, who joined the Westport, Connecticut hedge fund 20 years ago and serves as co-CIO and co-chief executive officer, was questioning if Dalio had fulfilled the succession plan he set forth in 2011. Continued...