The Partnership for Connecticut, an endeavor between the state and Dalio Philanthropies designed to increase funding for public schools, is scheduled to be formally dissolved tomorrow, less than two months after it was launched.
The partnership, which was envisioned to run for five years, was announced in April with Dalio Philanthropies, the nonprofit created by Bridgewater Associates founder Ray Dalio and his wife, Barbara, pledging $100 million to Connecticut’s public schools.
Under the terms of the partnership, another $100 million was to come from the state and $100 million would be donated by other philanthropic and business leaders.
The Dalios said their pledge was the largest philanthropic gift in Connecticut history. However, the couple withdrew from the partnership after one month, with Ray Dalio taking to Twitter to blame the partnership’s failure on “one bad Republican politician who was hellbent on hurting the Democratic governor (who she wants to run against) that she would not abide by the board’s agreement to work things out within the board and to go with the group’s decisions.”
Barbara Dalio separately identified state Rep. Themis Klarides as the politician in question, adding that Rep. Vincent Candelora aided Klarides in working against the partnership’s goals.