Karen Karniol-Tambour is leaving her role as co-chief investment officer at hedge fund giant Bridgewater Associates to lead Canada’s new sovereign wealth fund, the Canada Strong Fund. A source tells Bloomberg News.
The fund will receive start-up capital of 25 billion Canadian dollars, equivalent to 17.7 billion US dollars, and will invest in Canadian companies and projects.
The initiative is part of Prime Minister Mark Carney’s strategy to strengthen the country’s strategic industries and reduce its dependence on the US.
Karniol-Tambour has worked at Bridgewater since 2006 and has been co-chief investment officer since 2023. Bridgewater manages around 100 billion dollars.
