Damn it, where's that PR campaign when we need it? Hedge fund decamps for Stamford.
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Maybe not to Indianapolis, but what's the difference?
One of Connecticut’s largest private equity firms has completed a quiet move from Greenwich to the Stamford waterfront, nearly a year after its founding CEO stepped aside who led the company’s investment of more than $30 billion in capital since 1983.
First Reserve is among the half-dozen largest, U.S.-based funds focused on natural resources, according to an August 2017 study by Preqin, having raised $12.8 billion over the past decade for investment in major energy infrastructure like refineries and pipelines, with the company having made some 600 investments over the years.
First Reserve is by far the largest of the five Connecticut companies to have raised at least $1 billion for investment in natural resources over the preceding 10 years, along with Alinda Capital Partners and Starwood Energy in Greenwich, Lime Rock Partners in Westport, and Commonfund Capital in Wilton.
On a somewhat related topic, Cliff Asness's AQR Capital is slated to receive (another) $5 million from his fellow Greenwich taxpayers. Love the guy, and appreciate that only a fool would turn down free money, but is this really how we should be digging our grave?
