Qiaoshui, the world's largest hedge fund, may soon change ownership.

On Tuesday, October 4th, it was reported that Ray Dalio, the founder of Qiaoshui, transferred all voting rights to the board of directors on Sept. 30 and resigned as one of the three joint chief investment officers of Qiaoshui. One of the purposes of Dario's relinquishment of title and voting rights is to determine the right to inherit the bridge.

Nir Bar Dea, co-CEO of Qiaoshui, said:

Dario no longer has the final say. This is a big change.

Dalio is also different from most other hedge funds in terms of corporate inheritance. Many of his peers eventually turned hedge funds into family businesses or were forced to shut down. But Dario was determined to create something more lasting than his life.

As early as 2010, he launched a transition plan, which he thought might take only two years to complete. But it is not easy for Dario to find a successor, especially when finally handing over control of the company is an irreversible step:

Once we're ready, we'll move on. I don't want to hold on until I die.

After handing over control, he will retain his board seat under a new title: founder and chief investment officer mentor.

Dario believes that the timing is also favorable:

Qiaoshui has been offering some better returns after it misread the market in the first few months of the COVID-19 epidemic.

As of Sept. 30, its flagship Pure Alpha strategy has risen 34.6% this year, while its round-the-clock strategy, which aims to provide more stable returns, has fallen by 27.2%.

With $150 billion in assets under management, Qiaoshui is the world's largest hedge fund company.