Greenwich billionaire steps up spending on Connecticut races

Greenwich hedge fund manager Stephen Mandel has become one of the most influential donors in Connecticut politics.

According to State Election Enforcement Commission records, Mandel and his wife Susan have contributed more than $11 million to state-level candidates and organizations in the current two-year cycle.

That figure includes $5.5 million directed to Impact CT, an independent expenditure committee that Mandel funds almost entirely. State records show the group accounted for 83% of all spending by independent expenditure groups in Connecticut elections this year.

Impact CT has spent more than $130,000 as of Monday on behalf of six Democratic legislative candidates appearing on the November 3 ballot. The spending includes mailers and digital ads for Rob Blanchard, Carolann Reid, Jill Oberlander, Joe de la Cruz, Cathy Osten, and Meredith Tobitsch.

The couple also established the Connecticut Project in 2021, an advocacy group for which they are the sole donors. The organization reported nearly $2 million in media spending over the past two years, the highest amount among registered lobbying groups in the state.

Meghan Holden, the Connecticut Project’s director of marketing and communications, said the group’s aim is to make the state work for working-class people. She noted that the group does not publicly disclose its donors but that the Mandels fund it exclusively.

Critics and allies alike acknowledge the Mandels' growing influence. Matt Ritter, Speaker of the House from Hartford, said the Mandels have hired good people who are well-thought-of. Tom Swan, executive director of the Connecticut Citizens Action Group, argued that political processes should be determined by votes rather than checkbooks, though he appreciated some of the work the couple funds.

House Republican Leader Vincent Candelora suggested that such large financial inputs imply a desire to influence outcomes beyond simple participation. Ruben Felipe, Impact CT’s lead consultant, said the group focuses on competitive races and candidates aligned with priorities like affordable housing and healthcare access. Felipe added that the team decided to support fewer candidates this year to concentrate resources on more viable races.