Carsten Stendevad
Carsten Stendevad, a Bridgewater Associates partner and its co-CIO of sustainable investing, is taking on a new gig, moving to impact investor Acumen Fund Inc. as its president and CIO.
Stendevad’s appointment is effective July 1, a spokesperson for Acumen said.
Acumen, led by Founder and CEO Jacqueline Novogratz, invests in industries and ventures that aim to mitigate poverty by creating jobs and services, investing across energy, agriculture, workforce development, education and health care.
The appointment comes as the firm accelerates a $250 million initiative to deploy solar energy across Sub-Saharan Africa, with the goal of achieving universal energy access in the region.
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In November 2024, the firm also announced a five-year, $300 million climate finance commitment to invest in agricultural business to support farmers in developing markets. As CIO, Stendevad will lead the more than $500 million in impact investments at the firm.
“For the past 20 years, I have followed with admiration the pioneering work that Jacqueline and the whole team at Acumen have pursued to harness the power of investing to solve the world’s most pressing challenges,” Stendevad said in a statement. “I am honored to join their mission and have the opportunity to expand the scale and reach of Acumen’s work, helping ensure that financial markets work for everyone, especially the most vulnerable among us.”
Stendevad joined Bridgewater Associates in 2017 and in 2021 was named co-CIO of the firm’s sustainable investing group, alongside the hedge fund’s head of research, Karen Karniol-Tambour.
Before joining Bridgewater, Stendevad was CEO of ATP, Denmark’s national pension, having been appointed in 2012. He was an investment banker at Citi between 2002 and 2012 and worked at McKinsey & Co. between 1999 and 2002.
“Carsten’s deep experience in global investing and sustainable finance, paired with his unwavering commitment to long-term impact, makes him uniquely equipped to accelerate Acumen’s work at a time when the world needs it most,” Novogratz said in a statement. “The challenges facing vulnerable communities are growing more complex. With Carsten’s leadership, we will scale innovative solutions to poverty and create markets that work for everyone.”
Stendevad holds a candidate of economics degree and a master of arts degree in rhetoric from the University of Copenhagen, as well as a master’s degree in public policy from the Harvard Kennedy School.
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Tags: Acumen, Bridgewater Associates, Carsten Stendevad, Jacqueline Novagratz, Karen Karniol-Tambour
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