Business Briefs: Hedge fund hires poker great, Nonprofit expands its board...
Bloomberg reported that Bridgewater Associates, the world’s largest hedge fund, which is based in Westport, has hired Vanessa Selbst, the top female poker player of all time with $11.9 million in winnings.
Selbst confirmed in December via Facebook she had taken a trading research and strategy job with a hedge fund she did not identify by name. A source told Bloomberg the firm is Bridgewater.
The company declined to comment.
Smart Kids with Learning Disabilities has named Dr. Christopher Bogart president of its board of directors.
The Westport-based nonprofit has expanded its board with the additions of Greenwich Time columnist Claire Haft, Cathy Irwin, of New Canaan, and Joan Lombardozzi, of Stamford.
Bogart is a clinical psychologist who runs the Southfield Center for Development in Darien.
Thomas Parrino and Laura Shattuck have formed the new law firm Parrino|Shattuck PC in Westport, focused on divorce and other matrimonial conflicts.
A resident of New Canaan, Parrino previously was a partner in Nusbaum & Parrino PC in Westport, which dissolved in December, as was Shattuck.
He is a past president of the Connecticut chapter of the American Academy of Matrimonial Lawyers. He has an undergraduate degree from the University of Connecticut and a law degree from the University of Bridgeport.
Shattuck, a Fairfield resident, is a graduate of ABA-NITA Family Law Trial Advocacy Institute.
Buyout shop Compass Diversified Holdings, a financial consulting business with holdings nationwide, is acquiring Foam Fabricators for $248 million.
The Scottsdale, Ariz.-based company generated $126 million in sales over 12 months molding protective foam shields for appliance manufacturers, automakers and other industries.
Westport-based Compass owns several operating companies including Sterno Products, which is preparing to buy out a Utah-based candle manufacturing business. Sterno Products of Corona, Calif. entered into a “definitive agreement” to acquire Utah-based business Rimports Inc. for $145 million. The deal is projected to close by the end of the month.
Steno Products makes and sells portable food warming fuel and creative table lighting for the food service industries. Rimports Inc. is based in Provo, Utah and makes branded and private label scented wickless candles, diffusers, essential oils, and more.
This will be Sterno Products third add-on acquisition since the California-based business was purchased by Compass Diversified Holdings in 2014, a press release said.
Compass CEO Alan Offenberg is slated to retire in May, and Elias Sabo is being promoted to the CEO position, effective in May.
Sabo, 47, joined Compass in 1998 as a founding partner and has been a member of its investment committee, previously working for Boundary Partners, CIBC Oppenheimer and Colony Capital. He is a graduate of Rensselaer Polytechnic Institute.
Connecticut had the fifth highest rate of home foreclosures in the nation last year, with about eight of every thousand homes in the state undergoing a foreclosure proceeding, according to Attom Data Solutions.
New Jersey had the worst foreclosure rate in the United States last year, with 1.61 percent of housing units under foreclosure at some point in 2017, compared to 0.78 percent in Connecticut. Foreclosures nationally were down 20 percent to an all-time low of 383,700 homes.
A Harris Poll survey sponsored by CareerBuilder found that 72 percent of workers surveyed did not report instances in which they felt vitimized by secual harassment while on the job.
Just under half of those surveyed indicated they confronted individuals over sexual advances or other harassing behaviour, and of that group, 22 percent said the situation stayed the same or got worse.
Harris Poll queried more than 800 people over a three-week period.