Key Takeaways
- • Two Sigma Investments, a NYC-based hedge fund with $37 billion in assets under management, has signed as the first corporate tenant in Cornell Tech's Bridge building, scheduled to open in September 2017.
- • Two Sigma's Collision Lab will occupy approximately 10,000 square feet and serve as an R&D hub where the firm's engineers collaborate with Cornell researchers and startups to develop technology initiatives focused on data analytics and financial applications.
- • The Bridge is a 238,000-square-foot mixed-use facility where Cornell Tech will occupy 39 percent of space for academic purposes, with the remaining 61 percent dedicated to corporate tenants; developers project 15–18 organizations will ultimately occupy the building.
- • Two Sigma's Chief Technology Officer Alfred Spector cited talent recruitment and proximity to "bright faculty and students" as strategic drivers, emphasizing the firm's focus on extracting value from data in economics and finance sectors.
- • Forest City Ratner Companies, the building's developer, has officially launched recruitment for additional technology companies to fill remaining tenant space, signaling broader industry interest in the Cornell Tech Roosevelt Island campus as a hub for tech-finance collaboration.
Summary
Two Sigma Investments, the quantitative hedge fund with $37 billion in assets under management, has secured space in Cornell Tech's Bridge building as the facility's first corporate anchor tenant ahead of its September 2017 opening. The commitment underscores growing institutional interest in Cornell's new Roosevelt Island technology campus as a strategic location for research-driven financial services operations.
Two Sigma will operate the Collision Lab within the 10,000-square-foot space it has leased. The lab is designed as a collaborative research environment where Two Sigma's research and development engineers will partner with Cornell faculty, students, and early-stage startups to advance the firm's technology initiatives. According to Alfred Spector, Two Sigma's Chief Technology Officer, the primary strategic objectives are twofold: accessing emerging talent from Cornell Tech's academic pipeline and positioning the firm near early-stage ideas that may inform future product development. Spector stated the firm aims to "gain value from the world's data, particularly in areas related to economics and finance."
The Bridge itself represents a hybrid institutional-corporate asset. Cornell Tech will occupy 39 percent of the 238,000-square-foot building for academic and research purposes, while the remaining 61 percent is designated for corporate tenants. According to Mary Ann Tighe, chief executive of CBRE Group Inc., the building is expected to accommodate 15–18 organizations, each occupying spaces of roughly 10,000 square feet or smaller. Forest City Ratner Companies, the developer, has begun actively recruiting additional technology companies to fill remaining availability.
MaryAnne Gilmartin, president and CEO of Forest City Ratner Companies, characterized the arrangement as aligned with the Bridge's core mission: "The Bridge is designed to encourage the random interactions and deep collaborations that solve problems, build partnerships and accelerate new products to market." Two Sigma's selection as the inaugural tenant signals developer confidence in the facility's appeal to sophisticated financial technology firms seeking structured collaboration with academic research infrastructure.
Two Sigma will operate the Collision Lab within the 10,000-square-foot space it has leased. The lab is designed as a collaborative research environment where Two Sigma's research and development engineers will partner with Cornell faculty, students, and early-stage startups to advance the firm's technology initiatives. According to Alfred Spector, Two Sigma's Chief Technology Officer, the primary strategic objectives are twofold: accessing emerging talent from Cornell Tech's academic pipeline and positioning the firm near early-stage ideas that may inform future product development. Spector stated the firm aims to "gain value from the world's data, particularly in areas related to economics and finance."
The Bridge itself represents a hybrid institutional-corporate asset. Cornell Tech will occupy 39 percent of the 238,000-square-foot building for academic and research purposes, while the remaining 61 percent is designated for corporate tenants. According to Mary Ann Tighe, chief executive of CBRE Group Inc., the building is expected to accommodate 15–18 organizations, each occupying spaces of roughly 10,000 square feet or smaller. Forest City Ratner Companies, the developer, has begun actively recruiting additional technology companies to fill remaining availability.
MaryAnne Gilmartin, president and CEO of Forest City Ratner Companies, characterized the arrangement as aligned with the Bridge's core mission: "The Bridge is designed to encourage the random interactions and deep collaborations that solve problems, build partnerships and accelerate new products to market." Two Sigma's selection as the inaugural tenant signals developer confidence in the facility's appeal to sophisticated financial technology firms seeking structured collaboration with academic research infrastructure.
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