(August 15, 2012) — Bridgewater Associates, the world’s largest hedge fund founded by Ray Dalio, is set to build a new $750 million corporate headquarters in Stamford, Connecticut.
The construction of the facility will be partly financed by tax breaks with up to $115 million from the state, according to Connecticut Governor Dannel P. Malloy.
“To have a company of Bridgewater’s stature make the business decision to invest $750 million in our state and significantly increase its workforce is not only an extraordinary economic win, but signals to the rest of the world that Connecticut is strengthening its leadership position in the very competitive financial services sector,” Malloy said in a statement, highlighting that Bridgewater’s new office will create up to 1,000 high-level jobs within 10 years.
The firm operates out of five buildings in nearby Westport.
“Connecticut is great place to do business and we are excited about this partnership with the State, which will allow us to expand and grow our business,” said Greg Jensen, Bridgewater’s co-chief executive.
In December, aiCIO Magazine questioned whether Ray Dalio is the Steve Jobs of investing. Read the full article here.