(Stamford Advocate) A U.S. congresswoman’s introduction of a “Hedge Fund Sunshine” bill Wednesday could have a major impact locally. The bill arrives in response to the pressure financiers are exerting on teetering Puerto Rico by acquiring its debt at steep discounts. Fairfield County is home to four of the world’s largest hedge funds — Bridgewater Associates, which has offices in Westport and Stamford; and AQR Capital, Viking Global Investors and Lone Pine Capital, all of Greenwich. Also obligated to file its holdings with the Securities and Exchange Commission is Stamford-based Point72 Asset Management, which as a so-called family office invests the fortunes of founder and Greenwich resident Steven Cohen and his employees rather than taking outsiders’ money for investment.
As of the third quarter, 130 hedge funds, private equity groups, family offices and other locally based institutional investors listed more than $285 billion in equity securities of publicly traded companies via the SEC’s 13F-HR form, through which they report holdings that qualify for disclosure.
