EXCLUSIVE-Bridgewater launches ownership program for staff after blowout year

By Anirban Sen

NEW YORK, Dec 19 (Reuters) - Hedge fund Bridgewater Associates is planning to roll out a broad employee ownership program next year which will see more than 60% of staff own equity in the firm, according to an internal memo seen by Reuters.

The initiative will mark a dramatic increase in employee ownership, as only about 1% of employees currently own stakes in the firm, according to a source familiar with the situation. The program, announced in an internal memo sent to employees by Chief Executive Nir Bar Dea, is timed with Bridgewater's 50th anniversary. It comes as Bridgewater's flagship macro fund Pure Alpha is on track to record its best performance in 15 years, according to the source.

"We are going to make more than half the company real owners of Bridgewater," said Bar Dea in the memo. “This is something we have dreamed of for years. I know many in our community have long aspired to own a part of Bridgewater.”

Reuters could not determine how much of the company would be handed to employees or the terms of the offer.