Bridgewater — the world’s largest hedge fund, which manages $150 billion in investments — just put its hand out for $22 million.
And the state of Connecticut ponied up.
The Westport-based firm — tucked away at 2 locations, the Glendinning property off Weston Road, and Nyala Farm on the Sherwood Island connector — has been granted $22 million in loans and guarantees from the State Bond Commission.
In return, Bridgewater promised to create 750 jobs by the end of 2021, while keeping 1,402 currently in the state.
Bridgewater’s Glendinning headquarters.
The hedge fund gets $5 million in training and energy assistance grants, and a $17 million low-interest loan. The loan will be forgiven if Bridgewater “keeps its promises for new and retained jobs in Connecticut,” NBC Connecticut says.
Bridgewater — founded and run by Ray Dalio of Greenwich, the richest man in the state — will spend $527 million to expand its facilities in Westport, Wilton and Norwalk.
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