Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to the fund’s investors and seen by Reuters.

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 divested his remaining shares in Bridgewater Associates, the hedge fund powerhouse that he founded, and stepped down from its board, according to a media report on Thursday.

The hedge-fund founder’s move ends a tumultuous transition at the firm. Also, Brunei’s sovereign-wealth fund now owns almost 20% of the hedge fund.

Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to the fund's investors and seen by Reuters.

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