The State Bond Commission approved $22 million in grants and loans Friday for the world's largest hedge fund despite bipartisan complaints that the wealthy company can afford it at a time when state employees are being laid off.
The commission voted 7-2 to award the package to Bridgewater Associates, a giant in the financial industry operated by Greenwich billionaire Ray Dalio, one of the nation's wealthiest individuals.
State Comptroller Kevin Lembo, a Democrat, and Rep. Christopher Davis, a Republican, voted against the deal, saying it was too lucrative for a wealthy company.
Bridgewater, the world's largest hedge fund, was approved for a grant package totaling $22 million by the state bond commission Friday.
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