Carney Taps Bridgewater Executive to Lead Canada’s Sovereign Wealth Fund
Prime Minister Mark Carney has appointed a senior executive at U.S. investment firm Bridgewater Associates to head Canada’s first sovereign wealth fund. Carney announced on Nov. 9 that Karen Karniol-Tambour, Bridgewater’s co-chief investment officer, will become the inaugural chief executive officer of the Canada Strong Fund. “Ms. Karniol-Tambour brings the experience and ambition to lead this mission – making investments that strengthen our economy and build lasting wealth for Canadians,” Carney said in a Nov. 9 statement. The fund will receive an initial $25 billion from the federal government over three years to invest in major Canadian projects and companies. It will make investments on commercial terms through two main streams: co-investments in projects receiving federal support and strategic investments in other Canadian businesses and projects....
Prime Minister Mark Carney has appointed Karen Karniol-Tambour, co-chief investment officer at Bridgewater Associates, as the CEO of Canada’s first sovereign wealth fund, the Canada Strong Fund. The fund will begin with $25 billion from the federal government over three years. Its mission is to invest in major Canadian projects and companies on commercial terms to strengthen the economy and build wealth for Canadians.
- Karen Karniol-Tambour, former co-chief investment officer at Bridgewater Associates, has been appointed CEO of the Canada Strong Fund.
- The Canada Strong Fund is Canada’s first sovereign wealth fund.
- The fund will receive an initial $25 billion from the federal government over three years.
- Investments will focus on major Canadian projects and companies, including co-investments in federally supported projects and strategic investments in other Canadian businesses.
- The goal is to strengthen the economy and build lasting wealth for Canadians.
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