Thursday, 5 May 2016
Last updated 6 hours ago
Mar 7 2014 | 1:14am ET
Bridgewater Associates is unlikely to move to Stamford, a lawyer for the hedge fund said.
Bridgewater announced in 2012 that it would move from its current Westport headquarters to a new, state-of-the-art campus on the Stamford waterfront. But the proposal ran into immediate opposition, and little progress has been made.
Now, Bridgewater is pursuing an expansion of its Westport offices. And its land-use lawyer, Larry Weisman, said last week at a Westport planning and zoning hearing that there is “only a 20% probability of a move to Stamford,” the Westport News reports.
Weisman is seeking a zoning amendment to allow Bridgewater to expand its 47,000-square-foot home on Glendinning Place.
A Bridgewater spokesman denied that the world’s largest hedge fund had given up on the Stamford move, reiterating that the firm is excited by “the prospect of a state-of-the-art campus that will bring all of our employees together under one roof.” But Ryan Fitzgibbon did not that there are still “a number of hurdles that we would need to overcome before we could bring this project to fruition.”
According to the Stamford Advocate, Bridgewater recently told Mayor David Martin that the hedge fund needs more time to decide which way to go.
“They have a number of discussions internally that they need to have in order to firm up their plans,” Martin’s chief of staff, Michael Pollard, told the Advocate. “They are assessing their needs and requirements.”