An employee of Bridgewater Associates who filed a sexual-harassment complaint against his supervisor has withdrawn the claim and started a new job at private-equity firm KKR.
With about $150 billion under management, Westport, Connecticut-based Bridgewater is the world's largest hedge fund.
Chris Tarui filed a complaint earlier this year with a Connecticut agency, alleging the harassment and describing Bridgewater as a "cauldron of fear and intimidation" that kept him silent.
Tarui, who raised money for the hedge fund, withdrew his claim earlier this week and did not receive any financial compensation from the firm, a Bridgewater spokesman said.
Bridgewater also agreed to withdraw Tarui's employment restrictions, the spokesman added. Typically, Bridgewater employees are bound to noncompete agreements. The supervisor who is alleged to have harassed Tarui is still employed at the hedge fund.
After the The New York Times last month reported on the complaint, Bridgewater founder Ray Dalio called the Times' story a "distortion of reality."
Still, the case has drawn scrutiny to Bridgewater's unique culture, which Dalio describes as radical transparency. At the fund, employee conversations can be recorded and viewed by other employees.
Like many companies, Bridgewater requires workers to agree to settle claims in private arbitration, keeping matters out of public view. The public agency filing in Connecticut, however, revealed the details of the allegations.
Reached by telephone, Tarui declined to comment. His LinkedIn page says that he started as a director at private-equity firm KKR this month. A KKR spokeswoman confirmed the move.
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