Bridgewater shorts €130m worth of CRH shares

Irish construction materials company continues to perform strongly despite a drop in its share price – and Ray Dalio’s hedge fund’s bet against it

Ray Dalio, Bridgewater Associates founder: announced he was giving up control of the firm. Picture: Getty

Bridgewater, the hedge fund founded by the American multibillionaire Ray Dalio, is shorting nearly €130 million worth of shares in CRH, the Irish concrete and construction materials company.

The hedge fund, which is the world’s largest, with $150 billion in assets, has been holding a short position on 0.52 per cent of CRH’s shares since the end of September, Central Bank filings show.

CRH’s share price has dropped significantly since January, from a price of ...