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Hedge fund calls off plan for move to Stamford


WESTPORT — A Connecticut-based hedge fund says it is calling off a plan to build a $750 million corporate headquarters in Stamford.

Bridgewater Associates says it made the decision after considering the “challenges, time, energy, and resources” that would be involved in completing the project.

Two years ago Gov. Dannel P. Malloy announced that the state would provide up to $115 million in state aid to support the company’s plan to build the new headquarters and create up to 1,000 jobs.

The Westport-based company said in its statement Friday that it is thankful to the governor for his support but it is now exploring other options.

Bridgewater manages about $150 billion in investments worldwide for a variety of clients, including pension funds, university endowments, charities, foreign governments and central banks.



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