Bridgewater appoints 2 co-CIOs to oversee new sustainable investing group

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Bridgewater Associates launched a sustainable investing group overseen by Karen Karniol-Tambour and Carsten Stendevad, both newly named co-chief investment officers for sustainability at the world’s largest hedge fund.

Ms. Karniol-Tambour, previously Bridgewater’s head of investment research, and Mr. Stendevad, a Bridgewater senior investment executive, will lead efforts on the design and implementation of sustainable investments with clients pursuing sustainability goals alongside their financial targets, Bridgewater spokeswoman Ryan FitzGibbon said.

Ms. Karniol-Tambour and Mr. Stendevad will also serve as co-chairs of Bridgewater’s new sustainable investing committee.

The news release notes the new group will embed sustainability considerations into the firm’s investment processes when appropriate.

“Sustainable investing is a strategic priority for Bridgewater and for our clients,” said David McCormick, Bridgewater’s CEO, in the news release. “Understanding the economic impact of environmental, social, and governance issues has always been crucial to our study of how economies and markets operate, and it is an increasing priority for our clients to achieve financial goals as well as have environmental and social impacts in their portfolios.”

Bridgewater Associates has about $150 billion in assets under management.