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Local News

Lampert Hedge Fund Leaves Connecticut For Florida

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File photo of money exchanging hands. (Photo by Joe Raedle/Getty Images News)

File photo of money exchanging hands. (Photo by Joe Raedle/Getty Images News)

GREENWICH, Conn. (AP)–

A $9 billion private investment hedge fund has moved out of Connecticut.

The Greenwich Time reports ESL Investments, run by billionaire Edward Lampert, notified investors it has relocated to Miami.

A company spokesman declined to say why the firm left Connecticut or how many people ESL Investments employed at its Greenwich headquarters.

In 2003, Lampert was kidnapped at gunpoint from the parking garage of his Greenwich office and taken to a Days Inn in Hamden. He was released unharmed two days later after promising to pay his captors $40,000. They were arrested after trying to use Lampert’s credit card to order a pizza.

Lampert owns a $25 million compound on Long Island Sound in Greenwich, but reportedly bought a $40 million mansion recently on Biscayne Bay near Miami.

     Information from: Greenwich Time, http://www.greenwichtime.com
     
     (Copyright 2012 by The Associated Press.  All Rights Reserved.)

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