Investment firm to create up to 600 new jobs in Connecticut

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HARTFORD — A global investment management firm plans to expand its headquarters and operations in Connecticut over the next decade, creating up to 600 new jobs.

Gov. Dan Malloy said the $72 million project by AQR Capital Management will also retain 540 jobs and increase the firm’s economic impact in the state.

AQR was established in New York before moving its operations to Connecticut in 2004. Since then, the Greenwich-based firm has grown by more than 500 employees.

The Department of Economic and Community Development — through the First Five program — will provide up to $28 million in loans and up to $7 million in grants to support the expansion project.

State funding will be disbursed in multiple phases as the company reaches certain job creation and retention milestones.