Westport’s Bridgewater Associates, the town’s largest private employer which oversees one of the world’s largest hedge funds, is taking more than 50,000 square feet of space at The Towers complex in Norwalk, where it will share the headquarters building of Xerox Co., according to Fairfield County Business Journal’s Westfair Online.
According to records on file with the city of Norwalk, some $1.5 million is being spent on renovations to the offices, which are owned by Norwalk-based developer Building and Land Technology (BLT), the newspaper said.
Bridgewater Associates employs more than 900 workers at its headquarters just off Ford Road, on Riverside Avenue, and at the Nyala Farm office complex.
There has been recent speculation that Bridgewater is seeking to move its headquarters in order to consolidate its workforce. (See WestportNow July 9, 2010)
The Fairfield County Business Journal reported last July that Bridgewater was considering Building and Land Technology’s Harbor Point district under construction in Stamford as a new headquarters location.
There is a close personal relationship between Bridgewater and BLT, the report said.
It said BLT CEO Carl Kuehner III employs Matt Dalio, the son of Bridgewater CEO Ray Dalio; and Kuehner and Ray Dalio have an additional connection as directors of the National Fish and Wildlife Foundation in Washington, D.C.
The building and interior spaces are already very lovely, so I bet it’ll be fantastic when they’re done renovating. Xerox and AonHewitt already occupy most of the floors in the building. It was first occupied in 2001 and was built to hold 800-1000 employees at that point, so either they’re going to really pack the cubes deep, or they’re still going to hold other space for employees.