Deals
Bridgewater Triples Bets Against Italian Firms to $3 Billion
- Hedge fund firm raises bet against Intesa, shorts Atlantia
- Bridgewater raises short positions ahead of national elections
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Billionaire hedge-fund manager Ray Dalio’s Bridgewater Associates is upping its bets against Italian banks and insurers ahead of the nation’s elections next month.
The world’s largest hedge-fund firm tripled its bearish wagers against Italian companies in the last three months, mainly focused on the financial sector, data compiled by Bloomberg show. The March 4 election is widely expected to produce no clear winner, which would create difficulties in forming a government and make it hard for the country to produce the wide-ranging economic reforms that investors and the European Union are looking for.