Connecticut is a Global Leader in Asset Management and Who’s Who of Financial Leaders
The state is home to 10 of the world’s largest hedge funds including Westport-based Bridgewater Associates, the largest hedge fund globally. Connecticut houses the second highest level of hedge fund capital after New York.
Well-Diversified Industry Sector
While a high percentage of the state’s financial services jobs are in the insurance field, there are many specialties represented across the broader financial services segment. Overall, there are 7,225 insurance and financial services companies employing 103,666 in the Financial Services and Insurance Sectors across the state, also stimulating growth in other areas of the Connecticut economy, including legal, accounting and technology services.
Key Facts
- #1 Hedge fund manager in the world is located in Connecticut (Bridgewater Associates)
- #2 in the U.S. for Assets Under Management (Statista, 2020)
- The Financial Activities Sector Accounts for more than 1/4 of the state's GSP (Statista, 2021)
- #3 in the World for Managing the Most Hedge Fund Capital (CT Hedge Fund Association, 2021)
- #8 in the U.S. for Venture Capital Deals per capita (National Venture Capital Association, 2021)
- #1 State for the Digital Economy (Information Technology & Innovation Foundation, 2020)
- $898 million in Venture Capital was Invested in Connecticut in 2020 (Pitchbook, 2021)
- #2 Hedge fund industry size at $390 billion (Preqin)
"For me being located in CT boils down to three great advantages. Quality of life - which is so extraordinary, the quality of the workforce which is perhaps the best in the country and the location itself. It’s a great place to do business and from which to expand to other markets. I wouldn’t want to be located anywhere else.”
– Jim Smith, former Webster Bank Chairman and CEO, on maintaining their global headquarters in Waterbury.
