The former chief investment officer of Ray Dalio’s family office has taken on a similar role for one of Mexico’s richest dynasties, his third senior money management position in the past decade.
Bruce Zimmerman is now an investment director at Tresalia Capital, a family office that oversees the fortune of Maria Asuncion Aramburuzabala and her relatives, according to a regulatory filing last month. He joined the Mexico City-based firm last year after serving as a senior adviser at the family office of the Bridgewater Associates founder following a roughly four-year stint as CIO.
Representatives for Tresalia didn’t respond to requests for comment. Zimmerman, 67, didn’t respond to requests for comment through Oaktree Specialty Lending Corp., where he’s a director.
Aramburuzabala, 61, inherited a stake from her father in Corona beermaker Grupo Modelo, which brewing giant Anheuser-Busch InBev SA/NV acquired more than a decade ago for about $20 billion. She served on the Budweiser maker’s board of directors until 2023, the year after she recruited one of Goldman Sachs Group Inc.’s bankers in Mexico to succeed her as Tresalia’s top executive.
Tresalia’s other assets include real estate investments worldwide and higher education in Mexico. Tresalia, which doesn’t publicly disclose the amount of assets it manages, has also allocated funds to startups in the Aramburuzabala family’s home nation, including the financial technology company Stori and supply-chain business Nuvocargo. Maria’s son, Pablo, helps manage Tresalia’s private equity investments.
Zimmerman, a Houston native with an undergraduate degree from Duke University and an MBA from Harvard University, started working at family offices after serving for almost a decade as CIO of the University of Texas Investment Management Co., one of the largest public US endowments. Before he joined Utimco in 2007, he was global head of pension investments at Citigroup Inc.