It’s official: Bridgewater Associates is the largest hedge fund in the world.
The Westport firm — located in the woods of Glendinning Place, off Weston Road just beyond the Lyons Plains traffic light — has $38 billion assets under management, according to The Hedge Fund BlogMan. That’s a cool $5 billion more than runner-up JPMorgan Asset Management in New York.
Congratulations, I guess. I guess too the path to being the biggest hedge fund in the world includes keeping a low, discreet profile. Bridgewater certainly has not been a noticeable player in town philanthropy.
I recall seeing a few company ads, in programs for plays and the like. Beyond that, I can’t say what Bridgewater’s contribution to Westport life has been.
Compared to companies like Mitchells, Newman’s Own and Tauck World Discovery — and even now-departed businesses like Marketing Corporation of America — Bridgewater is a fly on the back of an elephant.
An argument could be made that, as a global financial services firm, they don’t owe Westport anything.
A counter-argument is that, no matter who you are or what you do, you owe your home town something. That’s my view, anyway.
I hope I’m missing something. Perhaps Bridgewater underwrites major civic programs, or surreptitiously keeps many organizations afloat.
If that’s the case, I take everything back.
And if it’s true, I’m sure that “06880” readers will quickly let me know.