Rebecca Patterson, Bridgewater Associates’ chief investment strategist, will leave the world’s largest hedge fund firm at the end of this month after three years in the role.
Patterson joined the long-running hedge fund giant, founded by Ray Dalio, in 2020, having previously served as chief investment officer at private multi-family office Bessemer Trust, where she oversaw $85 billion in client assets.
“After 25-plus years of researching and investing, I’ve come to realize that my strengths and passion as an investor are best aligned with more discretionary, less systematic approaches,” she wrote in a LinkedIn post.
Patterson is also member of Bridgewater’s Executive Committee, Investment Committee, and Commercial and Business Strategy Committee, as well as being a partner in the firm, and helping lead its Diversity & Inclusion efforts.
Before joining Bessemer in 2012, Patterson had spent 15 years at JP Morgan, working as a researcher in the firm’s investment bank in Europe, Singapore and the US. She later served as a chief investment strategist in the firm’s asset management arm and ran the private bank’s global currency and commodity trading desk.
“I’m grateful for the opportunity to have helped build on Bridgewater’s already unparalleled research, including through our Daily Observations, to publicly share our insights with the world, and to engage with clients to shape investment solutions that address their goals,” Patterson said.
“I have truly loved my time further strengthening our community and am confident the efforts to encourage mentorship and support diversity and inclusion will continue in the years ahead as part of Bridgewater’s long-standing commitment to invest in and support its people.”
Founded by Ray Dalio in 1975, Bridgewater today manages about $130 billion in assets. The firm’s Pure Alpha strategy has endured a tricky 2022: having surged some 22% in the first nine months of the year, recent losses have reportedly driven returns down to about 6% for the year.
