Westport-Based Bridgewater Associates Honored by American Red Cross

WESTPORT, CT - The world-renowned hedge fund Bridgewater Associates will receive the American Red Cross' Workplace Hero Award at the 17th annual Connecticut Heroes Breakfast on April 29, organizers of the event announced.

Westport-based Bridgewater "has not only been a committed supporter of the American Red Cross, the firm has an outstanding philanthropic and volunteer commitment to communities across Connecticut," said Red Cross officials in a statement.

"In 2006, instead of giving the traditional 'fruit basket' as a holiday gift, Bridgewater Founder, Ray Dalio, instead offered clients the opportunity to donate to charity," officials stated. "The note he sent to clients read, 'For this year's holiday gift to you, we at Bridgewater would like to donate to your favorite charity in your name … It's a great pleasure for us to help you help others who are less fortunate. Imagine how much more meaningful the holiday season would be if all the money that was spent on junk gifts (like the sweater from Aunt Millie) was redirected to help people who really need it.'"

Since then, Bridgewater Associates has made the American Red Cross one of its featured charities, and has donated about $1 million in support of the organization's mission.

“Bridgewater Associates' support of the American Red Cross has helped to ensure that we have resources available to respond when disaster strikes,” said Mario Bruno, CEO, American Red Cross Connecticut and Rhode Island Region, in a statement. “Their support enables us to live our mission, be there to help communities to prepare, respond and recover.”

Bridgewater Associates, along with other local heroes, will be honored at the Connecticut Heroes Breakfast on the 29th, which will be held at the Stamford Marriott Hotel and Spa, 243 Tresser Boulevard in Stamford.

WTHN Good Morning Connecticut co-anchor Laura Hutchinson will serve as the event's Emcee, and Wells Fargo is the Statewide Leadership Sponsor.

Registration and breakfast begin at 7:30 a.m. Tickets are $40 each and must be purchased in advance by visiting http://www.redcross.org/ct/heroes.

For more information about the event, contact Libby Richardson at (860) 678-4310 or Libby.Richardson@redcross.org.