Impact investor Acumen announced the appointment of Carsten Stendevad as its new President and Chief Investment Officer.
Established in 2001, New York-based Acumen is a global nonprofit impact investment firm, focusing on helping communities meet energy and food needs. Stendevad joins the firm from Bridgewater Associates, where he served as Partner and Co-Chief Investment Officer for Sustainable Investing.
Prior to joining Bridgewater, Stendevad previously served as CEO of ATP, Denmark’s national pension fund, and Managing Director in Citi’s Investment Banking division. He has also worked for McKinsey & Co. and is Chair of the Board for the Danish Refugee Council, as well as a Board Advisor to GIC (Singapore’s sovereign wealth fund). Stendevad also previously served on the boards of Novo Holding and UNICEF Denmark.
Acumen said that Stendevad will help guide the next chapter of the firm’s investment strategy and growth. He will work alongside Founder and CEO Jacqueline Novogratz.
Novogratz said:
“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. 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.”
Acumen said that Stendevad’s appointment comes as the firm seeks to advance its efforts to achieve universal energy access in sub-Saharan Africa, and expand its climate adaptation investing across multiple regions. Last year, Acumen announced a separate $300 million, five-year commitment to help 40 million smallholder farmers and feed one billion people by 2030.
Stendevad said:
“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. 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.”
