Tags: bridgewater | ray dalio | hedge fund | harassment

WSJ: Bridgewater Hedge Fund Paid Over $1 Million to Woman in Jensen Case

WSJ: Bridgewater Hedge Fund Paid Over $1 Million to Woman in Jensen Case
Greg Jensen (Bridgewater)

By    |   Tuesday, 07 November 2017 05:27 PM

Bridgewater Associates, the world’s biggest hedge fund that oversees $160 billion in investor money, paid a more than $1 million settlement to a woman who had a relationship with co-chief investment officer Greg Jensen, according to The Wall Street Journal.

Another female employee said Jensen had groped her buttocks, unnamed people familiar with the matter told the newspaper.

Jensen, 43, was directly mentored by Bridgewater founder Ray Dalio, 68, and groomed  to succeed him as leader of the fund. Jensen was co-chief executive of the firm at the time both incidents were brought to the company’s attention three years ago.

Dalio approved a settlement of more than $1 million for the woman who had a relationship with Jensen, the people said. Both women have since left Bridgewater and are restricted by nondisclosure agreements from discussing their experiences publicly, the people said.

“The Wall Street Journal’s accusations of my behavior are inaccurate and salacious,” Jensen said in a statement. “They are hurtful to my family and my reputation with those who don’t know me, so I am deeply disappointed with their sense of responsibility.”

Bridgewater is known for a culture of “radical transparency” that requires most meetings to be recorded and openly ranks employees on their weaknesses.

“This story is an uninformed misrepresentation of what actually occurred. While we are prohibited from speaking to this case, our track record speaks for itself,” a Bridgewater spokesman said in a statement.

In a tweet posted on Tuesday morning, Dalio wrote: “A good principle is ‘Don’t believe everything you read in the newspapers.”’

Several current and former male and female Bridgewater employees told The Wall Street Journal they were at times uncomfortable with Jensen’s behavior outside of the office and at company events. Jensen once hired a stripper to entertain Dalio at an off-site event attended by 1,000 people, people familiar said.

Jensen began a months-long personal relationship with a female employee who was his junior and in his line of supervision, people familiar with the matter said. Dalio was alerted after others at Bridgewater discovered the relationship between the two, people familiar said.

He questioned Jensen and the woman together before a panel of top executives, people familiar said.

At one point, Dalio assigned James Comey, Bridgewater’s then-general counsel, to question employees about Jensen’s conduct with subordinates, including interactions with the female employee, people familiar with the matter said.

Comey later became director of the Federal Bureau of Investigation and this year was fired by President Donald Trump amid an investigation into Russia's alleged intereference with the 2016 U.S. election.

As Bridgewater investigated the incident, the firm put the female employee on a leave of absence. She hired the discrimination attorney Gloria Allred, who spoke with Dalio for several hours, the people said.

Dalio and Allred negotiated a settlement of more than $1 million, the people said.

Dalio in March stepped down from the day-to-day operation of Bridgewater, the New York Times reported.

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Bridgewater Associates, the world's biggest hedge fund that oversees $160 billion in investor money, was said to pay a settlement to a woman who was pushed out after a consensual relationship with Greg Jensen, the firm's co-chief investment officer, The Wall Street Journal...
bridgewater, ray dalio, hedge fund, harassment
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2017-27-07
Tuesday, 07 November 2017 05:27 PM
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