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....
TL;DR
- 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.