Ray Dalio’s Family Office Hires Carnegie’s Baumgartner as CIO
- US billionaire has been ramping up plans for his family office
- Current CIO Bruce Zimmerman to stay on as senior adviser
Ray Dalio
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Ray Dalio’s family office has hired Mark Baumgartner from nonprofit Carnegie Corp. of New York as its chief investment officer, as the hedge fund billionaire builds out the firm overseeing his fortune.
Baumgartner, 53, is set to join Dalio Family Office in November after working as Carnegie’s chief investment officer since 2020, according to a statement. He held a similar role earlier at the Institute for Advanced Study in Princeton. Bruce Zimmerman, Dalio Family Office’s current and the first external CIO, will stay on as a senior adviser.