Bridgewater Associates launched a sustainable investing group overseen by Karen Karniol-Tambour and Carsen Stendevad, each newly named co-chief funding officers for sustainability on the world’s largest hedge fund.
Ms. Karnoil-Tambour, beforehand Bridgewater’s head of funding analysis, and Mr. Stendevad, a Bridgewater senior funding govt, will lead efforts on the design and implementation of sustainable investments with shoppers pursuing sustainability objectives alongside their monetary targets, Bridgewater spokesman Ryan FitzGibbon mentioned.
Ms. Karnoil-Tambour and Mr. Stendevad may also function co-chairs of Bridgewater’s new sustainable investing committee.
The information launch notes the brand new group will embed sustainability concerns into the agency’s funding processes when acceptable.
“Sustainable investing is a strategic precedence for Bridgewater and for our shoppers,” mentioned David McCormick, Bridgewater’s CEO, within the information launch. “Understanding the financial influence of environmental, social, and governance points has all the time been essential to our research of how economies and markets function, and it’s an growing precedence for our shoppers to realize monetary objectives in addition to have environmental and social impacts of their portfolios.”
Bridgewater Associates has about $150 billion in belongings beneath administration.