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Caisse de dépôt et placement du Québec will halt investments with the Dubai-based port operations giant, after the company’s chief executive and chairman Sultan Ahmed bin Sulayem was revealed to have exchanged intimate emails with the late convicted sex offender Jeffrey Epstein, including for more than a decade after Epstein’s 2008 sentencing. (Le Journal de Montréal)
Talking point: La Caisse, which manages nearly $500 billion in assets on behalf of Quebec pension plans, is one of DP World’s biggest financial partners. The pension fund manager has invested heavily in DP port assets, starting in 2016 with a $5-billion deal. That agreement included Caisse acquiring a 45 per cent stake in DP’s container terminals in Vancouver and Prince Rupert, B.C., for $865 million. DP World Canada, a Caisse joint venture, won a bid last year to operate the Port of Montreal’s future $2.3-billion terminal expansion. The fund said it’s waiting for DP “to shed full light on the situation and take the necessary steps” before deploying new capital alongside the company.
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