07:42 AM EDT, 07/22/2024 (MT Newswires) -- The legal terms of Bridgewater Associates Founder Ray Dalio's exit from the firm has delayed an investment partnership between his family office and Abu Dhabi royal Sheikh Tahnoon bin Zayed Al Nahyan, Bloomberg reported Monday, citing people with direct knowledge of the matter.

A key issue is whether Dalio might use Bridgewater's intellectual property in the partnership, the people told Bloomberg. Dalio and the Emirati royal were planning to launch a partnership in the middle of last year on an asset management arm based within Abu Dhabi's international financial center for G42, the artificial intelligence firm set up by Sheikh Tahnoon, according to the report.

Several years ago, Dalio signed a non-compete agreement upon departing the world's largest hedge fund, and his planned venture with Sheikh Tahnoon puts that contract under the microscope, the people told Bloomberg.

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