NEW YORK (Reuters) -Investor Ray Dalio sold his remaining stake in Bridgewater Associates, the hedge fund he founded 50 years ago, according to a letter sent to the fund's investors and seen by Reuters.

"We wanted to update you that Bridgewater recently repurchased the last remaining ownership shares held by Dalio-related entities," Bridgewater's Chief Executive Officer Nir Bar Dea said in the letter.

The Wall Street Journal first reported Dalio's sale of his stake in Bridgewater.

Dalio had handed over control of Bridgewater to a new generation of investors in 2022.

He did not immediately respond to a Reuters request for comment about the sale.