Ottawa (TDI): Canada’s influential public pension fund, Caisse de dépôt et placement du Québec, one of the world’s largest institutional investors, has announced it will halt future deals and pause new investments with United Arab Emirates–based logistics giant, DP World, amid controversy over the firm’s chief executive’s links to the late disgraced financier Jeffrey Epstein.
In a statement on Tuesday, La Caisse said it would suspend any additional capital deployment alongside DP World until the Dubai-based company provides clarity and takes “necessary actions” concerning Sultan Ahmed bin Sulayem’s reported communications with Epstein.
The pension fund clarified that it is not a direct shareholder in DP World’s parent company, but a partner in joint ventures; including major port infrastructure projects in Canada and abroad.
The decision follows the recent release of millions of internal files by the US Department of Justice, shedding light on years of correspondence between DP World’s CEO Sulayem and Jeffrey Epstein.
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Some of the messages reportedly include personal references to sexual encounters and other intimate details, although there are no criminal charges connected to Sulayem at this time and inclusion in the files does not in itself constitute evidence of wrongdoing.
DP World, which operates more than 60 ports and terminals across roughly 40 countries, has not responded publicly to requests for comment on La Caisse’s announcement or the broader controversy.
The company is tightly linked with Dubai’s government and has played a central role in Canada’s port infrastructure landscape through joint ventures, including a high-profile project announced last year to build a container terminal in the Port of Montreal.
La Caisse manages nearly C$500 billion (about US$366 billion) in assets and has invested billions in DP World–related infrastructure over the past decade, including a US$2.5 billion stake in Dubai’s Jebel Ali Port and adjacent free zone and industrial park.
