Dalio, Abu Dhabi Royal’s G42 Said to Shelve Investment Venture
- Billionaire had signed non-compete upon departing Bridgewater
- The Dalio Family Office had acquired a stake in AI firm G42
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.