read more. : Bridgewater Associates, founded by billionaire investor Ray Dalio, has reportedly raised a minimum of $800 million in recent months for a new fund strategy that has been designed to help wade through equity bear markets and generate returns negatively correlated to equities. The launch of the strategy comes at a time when the hedge fund is looking to revamp its business after founder Dalio gave up control, a Reuters report said. The hedge fund launched the “Defensive Alpha” strategy in July last year, the report said, citing regulatory filings.