Bridgewater Associates' China business nearly doubles assets in a year

Bridgewater Associates' China business nearly doubles assets in a year

Ray Dalio, founder, co-chief investment officer and co-chairman of Bridgewater Associates, speaks at the 2019 New Economy Forum in Beijing, China November 21, 2019. REUTERS/Jason Lee/File Photo

Hedge fund Bridgewater Associates’ China business is set to grow to about 40 billion yuan ($5.56 billion) following a fresh round of fundraising, a source familiar with the matter said, marking a doubling of assets over the past year while local rivals have struggled.