Conn. Gov. Says Bridgewater Deal 'Up To Stamford'

Jun 26 2013 | 12:20pm ET

Connecticut Gov. Dannel Malloy said yesterday that a proposal to build a new home for the world's largest hedge fund in Stamford was for the city to make.

Malloy, a former mayor of the city, was pushed hard for a deal to move Bridgewater Associates from Westport to a new campus on the Stamford waterfront. But the proposal has generated a great deal of controversy, and little has been done to move forward on it in recent months.

But speaking in Stamford yesterday, Malloy seemed to take a step back from the project.

"What happens in Stamford is up to Stamford," Malloy said. "I'm not making any judgments. I structured the transaction to keep [Bridgewater] in the state."

Last year, Bridgewater struck a deal to build a 14-acre campus on the site of a public boatyard. In exchange, it would receive more than $100 million in tax credits and other benefits.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...