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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...