Ray Dalio, Abu Dhabi Royal’s AI Firm (G42) Shelve Investment Venture - Bloomberg
Ray Dalio’s family office and Sheikh Tahnoon bin Zayed Al Nahyan’s artificial intelligence firm G42 have abandoned plans to set up an asset management venture together in Abu Dhabi, according to people familiar with the matter.
The plans fell through in part due to questions on whether Dalio — the founder of Bridgewater Associates — might use the hedge fund’s intellectual property in any tie-up, said the people, who requested anonymity as the matter is private.
The 75-year-old had signed a non-compete agreement upon departing the world’s largest hedge fund, Bloomberg News reported in July. His plans with Sheikh Tahnoon, one of Bridgewater’s top clients, put that contract under the microscope.
Representatives for G42, the Dalio Family Office and Bridgewater declined to comment. Dalio and Bridgewater have previously said there have been no discussions or conflicts between the two on those topics.
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