Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to investors, while Brunei's sovereign fund acquired a minority stake in the firm,

Bridgewater Associates founder Ray Dalio sold the remainder of his stake in the hedge fund he founded decades ago and left its board.

Ray Dalio, the founder of Westport-based Bridgewater Associates, one of the world’s largest hedge fund managers, has sold his remaining stake in the firm — the latest milestone in a long-term transition.