Refer to the input text as context and select the correct relationship between 'Bridgewater Associates' and 'hedge fund' from the available options.
Options: location of formation, chief executive officer, industry, parent organization

An $80 billion portfolio managed by hedge fund titan Ray Dalio's Bridgewater Associates and widely held by many pension funds slumped in August and some investors blame the strategy of such funds for the eruption in volatility that slammed stocks and commodities.
industry