Investor To Lead Lamont Transition

Ex-Dodd Aide, Hedge Fund Exec Drajewicz Named

Gov.-elect Ned Lamont announced Thursday he picked a one-time aide to former U.S. Sen. Chris Dodd and an executive at Bridgewater Associates, the world’s largest hedge fund, to head his transition.

Ryan Drajewicz is taking a leave of absence from the Westport hedge fund. In announcing his pick, Lamont referred to Bridgewater Associates as a “finance firm,” avoiding its description as a hedge fund, an aggressive and sometimes risky means to make money for high-net-worth investors.

The State Bond Commission, led by Gov. Dannel P. Malloy, approved $22 million in grants and loans for Bridgewater despite complaints about the largess at a time when state employees were being laid off.

Malloy defended the deal as necessary to compete with other states and promote economic growth.

Bridgewater Associates is operated by Greenwich billionaire Ray Dalio, one of the nation’s wealthiest individuals.

The Lamont transition did not make Drajewicz available for an interview.

Before the election, Lamont organized an advisory council of 12 business executives and representatives to give advice on how to boost Connecticut’s slow-growth economy.

Connecticut is struggling with constant deficits driven by rising pension and health care costs, and Lamont faces an estimated $4.4 billion deficit for the next two-year budget. Connecticut is the only New England state that hasn’t regained all the jobs it lost during the Great Recession.