GREENWICH – The death of Devon Dalio, who died in a major car accident at a retail store in Greenwich last month, has been ruled accidental by the State Office of the Chief Medical Examiner.

Dalio, 42, died on December 17 of smoke inhalation and thermal injuries, the ME office said Thursday afternoon. No further information was released about the crash.

Dalio was behind the wheel of a 2016 Audi when it crashed into a Verizon store in the Riverside Commons mall in Greenwich and caught fire, police said. The firefighter’s office said the car’s gas tank burst, causing the fire that destroyed the Verizon store and damaged other stores in the structure.

Police said they had no further information about Dalio’s death or the crash. Captain Mark Zuccerella said the case is still being investigated.

Officers and bystanders were unable to enter the shop after the crash due to the intensity of the flames. The Verizon workers ran out of the store and were not injured in the fire.

Dalio

Courtesy of the Dalio family /

Dalio, who grew up in Greenwich, was the son of local philanthropists Ray and Barbara Dalio. Ray Dalio is the founder of Westport-based hedge fund Bridgewater Associates and is widely believed to be Connecticut’s richest resident.

Devon Dalio co-founded P-Squared Management Enterprises, a private equity firm focused on healthcare technology companies. He was a board member of the Dalio Philanthropies Family Foundation. He graduated from Lafayette College.

Bruce Zimmerman, a friend and associate, told an industry magazine, Institutional Investor, that Dalio was “admirable” and “principled”. Zimmerman told the magazine, “My first impressions when I met him: Friendly. Passionate. Curious. Generously. Loved his family, his parents, his brothers, his wife, his child. A loving man. “

In addition to his parents, Devon Dalio was survived by his wife and daughter. Memorial arrangements were private.

His son’s death “caused a tremendous amount of pain and reflection,” said Ray Dalio in a lengthy essay posted on his LinkedIn account about two weeks after the crash.

“During this time I have made a journey that I am still on,” wrote Dalio.

“At first it was worse to lose Devon than to lose part of me, which became even more painful when I saw the pain my family members were causing.”

Over time, Ray Dalio said he could learn that there is no “right approach” to healing after tragedy.

“Everyone must deal with the death of a loved one in the way that is right for them,” he wrote.