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Friday, May 27, 2016

Bond Panel OK’s $22M for Hedge Fund Expansion

By Keith M.Phaneuf


The State Bond Commission today approved $22 million in financing to help Westport-based Bridgewater Associates, one of the nation’s largest hedge funds, to expand in Fairfield County.

But Democratic state Comptroller Kevin P. Lembo, a potential Democratic gubernatorial candidate in 2018, joined with a prominent Republican state representative to oppose assistance for Bridgewater.

Both Lembo and Rep. Chris Davis, R-Ellington, argued it was imprudent to dedicate scarce state resources to a firm that manages more than $130 billion in global investments.

Gov. Dannel P. Malloy, who chairs the 10-member bond commission, countered that Connecticut competes daily with neighboring states for businesses and jobs.

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Posted 05/27/16 at 04:41 PM  Permalink


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