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Carney Names First CEO of Canada’s Sovereign Wealth Fund
The fund will begin with a $25 billion commitment and invest on commercial terms in national-building projects and high-potential companies, the government said.
- On Monday, Prime Minister Mark Carney announced that Karen Karniol-Tambour will serve as the inaugural Chief Executive Officer of the Canada Strong Fund, Canada's first national sovereign wealth fund.
- Carney unveiled the sovereign wealth fund last spring with an initial capital commitment of $25 billion and a retail component allowing individual Canadians to invest and share in returns.
- Karniol-Tambour is a Canadian citizen and co-chief investment officer at Bridgewater Associates, recognized by Barron's as one of the 100 most influential women in U.S. finance for seven years running.
- The Prime Minister's Office stated the Canada Strong Fund will operate at arm's length from government with an independent board, pursuing "strategic investments in other high-potential projects and companies."
- Although the fund has not yet launched, it aims to put Canadian capital to work in projects building the country's future, with Karniol-Tambour overseeing investment models and portfolios focused on Asia.
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Prime Minister Mark Carney has recruited a new international investment manager from his government to lead Canada's first sovereign investment fund.
·Montreal, Canada
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Winnipeg Free Press+21 Reposted by 21 other sources
Carney names first CEO of Canada's sovereign wealth fund
OTTAWA - Prime Minister Mark Carney has recruited another global investment executive to his government, this time to helm Canada's first sovereign wealth fund.
·Winnipeg, Canada
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Coverage Details
Total News Sources35
Leaning Left22Leaning Right1Center7Last UpdatedBias Distribution74% Left
Bias Distribution
- 74% of the sources lean Left
74% Left
L 74%
C 23%
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