GREENWICH — The driver who died in a crash in Riverside Thursday has been identified as Devon Dalio, the son of Greenwich’s Ray and Barbara Dalio, a family spokesman confirmed Friday evening.
“It is a heartbreaking tragedy and the family is in mourning,” the spokesperson said.
Devon Dalio was 42 at the time of his death. He was the Dalios’ eldest son and was the co-founder of P-Squared Management Enterprises, a private equity firm that is focused on small- and mid-market health care technology companies.
He is survived by a wife and daughter, his parents and three brothers.
Ray Dalio, who is founder of the Westport-based hedge fund Bridgewater Associates, is considered by many measures to be Connecticut’s wealthiest resident.
Gov. Ned Lamont, also a Greenwich resident, said he and his wife Annie were “devastated” to hear the news of Devon Dalio’s death Thursday.
“As parents, we cannot imagine the grief and sadness of their loss,” Lamont said in a statement released through his office. “Our prayers are with Ray and Barbara, who have been champions for Connecticut’s children.”
Devon Dalio was the CEO of the Dalio Family Office for eight years before he founded his private equity firm. He was also an employee at Bridgewater Associates. Dalio served as a board member of the family’s foundation, Dalio Philanthropies. According to the spokesperson, his philanthropic interests included health and wellness, support for veterans, disaster relief and animal welfare.
On Thursday afternoon, the 2016 Audi driven by Devon Dalio crashed into the Verizon store in the Riverside Commons shopping center on East Putnam Avenue near Interstate 95’s Exit 5.
The gas tank likely ruptured as the car entered the store, causing the car to burst into flames, Fire Chief Joseph McHugh said Friday afternoon.
Investigators on Friday were still working to determine what caused Dalio to crash into the store, said Greenwich Police Department Public Information Officer Mark Zuccerella. The car passed over a parking strip and mounted a curb before hitting the doors and entering the store completely.
Police arrived at the scene at approximately 3:50 p.m. Thursday. Zuccerella said the store was “completely engulfed in smoke,” which prevented officers from approaching the interior.
The store’s employees were able to exit the store without injuries, according to police.
The Greenwich Fire Department contained the fire, extinguishing it before additional damage was done to the shopping center.
The Verizon store was largely destroyed and remained closed. The Greenwich Medical Spa, which is near the Verizon store, was also closed on Friday. No information was immediately available about when it would reopen.
kborsuk@greenwichtime.com
Dalios mourn death of son in Greenwich crash - Greenwich Time
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