| Notes | Ray Dalio’s hedge fund firm, Bridgewater Associates, is launching a sustainability strategy in Europe, upping its exposure to the environmental, social, and governance (ESG) investing trend. Bridgewater, the world’s largest hedge operation with $140 billion in assets, aims to open a sustainable fund next year. Dalio is no stranger to ESG efforts: In 2018, he and fellow billionaire Mike Bloomberg announced a marine biology venture focused on ocean conservation. Bridgewater previously has advised clients on ESG investing. The Dalio firm has partnered with Lyxor Asset Management, a subsidiary of French bank Societe Generale, and will offer ESG investments in Europe—via a UCITS (Undertakings for Collective Investment in Transferable Securities) structure, a cross between a mutual fund and a hedge fund. |