After less than a year at the helm, Mark Baumgartner has departed his role as chief investment officer for the Dalio Family Office, according to multiple sources familiar with the matter. Ray Dalio founded Bridgewater Associates.
Baumgartner declined to comment. The Dalio Family Office could not comment by press time.
Baumgartner joined the Dalio Family Office in November 2023. He succeeded Bruce Zimmerman, who had been the organization’s first external CIO with a four-year tenure at the organization. The Dalio Family Office supports Barbara and Ray Dalio and their family in their investments and their work through Dalio Philanthropies, including OceanX, Dalio Education, Endless Network, and the Beijing Dalio Foundation.
According to the Dalio Family Office’s announcement at the time of the hiring, Baumgartner’s systematic, quantitative investment style aligned with that of Ray Dalio, the founder of Bridgewater. When he was hired, Baumgartner said, “I am honored to join this unique and innovative family office and look forward to working closely with the very talented team there to strengthen its global investment presence and partnerships in support of the family’s philanthropic activities.”
Baumgartner joined the Dalio Family Office after three years as the CIO at Carnegie Corp. At the nonprofit, Baumgartner implemented his quantitative investment style and built up a team that had grown lean during the pandemic.
He joined Carnegie from the Institute for Advanced Study, where he served as CIO for six years. Baumgartner’s first foray into the allocator world was at the Ford Foundation, where he served as director of asset allocation and risk.
Baumgartner has a Ph.D. in mechanical and aerospace engineering from Princeton University. He held roles at fundamental and quantitative hedge funds, and co-led Morgan Stanley Investment Management’s institutional solutions group before becoming an asset owner.
