Conn. Approves $22 Million Package for World's Largest Hedge Fund
May 27 2016 - 2:20PM
Dow Jones News
HARTFORD, Conn. —A Connecticut commission has approved a $22
million loan and grant package to help the world's largest hedge
fund upgrade its offices.
The Bond Commission approved the package by a 7-2 vote
Friday.
Republican legislative leaders have questioned why Bridgewater
Associates should receive the funding when state programs that
serve vulnerable citizens are being cut in the state's new budget.
The firm manages approximately $150 billion in investments for
institutional clients.
Gov. Dannel P. Malloy, a Democrat, said it is a matter of
competing with other states and noted incentives offered by
Massachusetts recently helped to lure General Electric away from
Connecticut.
Department of Economic and Community Development Commissioner
Catherine Smith says the package is a great investment that will
create 750 new, well-paying jobs and retain 1,400 existing
jobs.
—Copyright 2016 Associated Press
(END) Dow Jones Newswires
May 27, 2016 14:05 ET (18:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Aug 2024 to Sep 2024
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Sep 2023 to Sep 2024