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Prime Minister Mark Carney appointed Karen Karniol-Tambour, co-chief investment officer of U.S.-based hedge fund Bridgewater Associates, as the inaugural CEO of the Canada Strong Fund. (The Logic)
Talking point: Karniol-Tambour, who joined Bridgewater in 2006, will leave the investment firm to lead the fund, which will operate at “arm’s length from the government” with its own board. The fund will co-invest in major projects receiving federal support and independently pursue investments in Canadian companies and projects on commercial terms. It will also offer Canadians a way to participate through principal-protected Canada Strong Notes sold by participating financial institutions. In a statement to The Logic, Bridgewater CEO Nir Bar Dea welcomed the appointment, saying the role gives Karniol-Tambour, a Canadian, an opportunity to serve her country.
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