The Fund Party | Bridger Pennington

Ray Dalio's fund, Bridgewater, they haven't raised money, I believe, since 2006. When they first raised their first fund, their minimum commitment was $100 million. Crazy. You had to have a $5 billion net worth to even talk to them. Why? Why would you do that in a fund? Because per SEC rule, a 3 fund can only have 1,999 investors. So they have to fill up each spot. Each spot has to be to the max capacity. So it was a $100 million minimum commitment. They filled that fund up, they've closed it. If you and me were in the same city as Ray Dalio, We're not even competing because his minimum check size is $100 million. My minimum check size is maybe like $250 or $100 grand. The big dogs are too big that we don't even compete with them on a capital raising standpoint. And I figured that out. I was like, huh, every year as funds grow bigger and better, you stop competing with them and there's new opportunity at the low end for brand new fund managers like me and you. So don't count yourself out.