Budget 2026 is the next major step in our plan to make Canadians masters of our own destiny – with a direct stake in our country’s growth and long-term prosperity.
As a key part of this plan, Prime Minister Mark Carney is announcing that Karen Karniol-Tambour will serve as Chief Executive Officer of the Canada Strong Fund – Canada’s first national sovereign wealth fund. The Fund will invest in major Canadian projects and companies on a commercial basis, ensuring that when Canada succeeds in attracting investment, developing strategic industries, and building nationally significant projects, Canadians can share in the financial returns.
As Co-Chief Investment Officer at Bridgewater Associates, Ms. Karniol-Tambour returns to Canada as a leading figure in global finance. Since joining the firm in 2006, Ms. Karniol-Tambour has advanced investment research and developed new approaches to understanding global markets. She expanded Bridgewater’s investment offerings, including strategic portfolios that integrated environmental and sustainability considerations.
A graduate of Princeton University, she is a Life Member of the Council on Foreign Relations and a World Economic Forum Young Global Leader. Barron’s has named Ms. Karniol-Tambour to its list of the 100 Most Influential Women in U.S. Finance for the last seven years.
Under Ms. Karniol-Tambour’s leadership, the Canada Strong Fund will be professionally managed, operating at arm’s length from the government, with its own Board of Directors.
With an initial capital commitment of $25 billion, the Canada Strong Fund will invest on commercial terms through two main streams. First, the Canada Strong Fund will work closely with federal entities providing support to projects to establish co-investment opportunities, including in nation-building projects. Second, the Canada Strong Fund will independently pursue strategic investments in other high-potential Canadian projects and companies to secure long-term returns and support Canada’s economic strength and resilience.
A distinctive feature of the Fund is that it will also provide Canadians with an opportunity to participate directly through a retail investment product. This will open access to investment opportunities that have traditionally been available mainly to institutional investors, allowing Canadians to invest in and benefit from the growth of the country’s most important projects and companies. Together, the Fund and its retail offering will create a new model of Canadian ownership, helping build national wealth while ensuring more Canadians share in the benefits of economic growth.
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“The Canada Strong Fund will put Canadian capital to work in the projects and companies building our country’s future. Ms. Karniol-Tambour brings the experience and ambition to lead this mission – making investments that strengthen our economy and build lasting wealth for Canadians. As we build a stronger, more independent Canada, we are ensuring Canadians have a direct stake in its success.”
Quick facts
- Budget 2026 announced the government’s intention to introduce legislation establishing the Canada Strong Fund as an arm’s-length, standalone Crown corporation. In the interim, the Fund will be incorporated as a wholly owned subsidiary of the Canada Development Investment Corporation, with its own dedicated Board of Directors and Chief Executive Officer.
- The Fund will pursue co-investment opportunities in projects and companies receiving federal support, as well as selective strategic investments in high-potential Canadian projects and companies.
- Canada Strong Notes will be available through participating financial institutions and provide principal protection, safeguarding Canadians’ initial investment while allowing them to benefit from the Fund’s performance.
