The Caisse de dépôt et placement du Québec is halting investments in a Dubai-based logistics company due to alleged ties between the firm’s chief executive officer and convicted sex trafficker Jeffrey Epstein.
According to a report by the Financial Post, Sultan Ahmed bin Sulayem, DP World’s CEO and chairman, exchanged messages with Epstein before and for more than a decade after the disgraced financier’s 2008 prison sentence, according to a series of emails released by the U.S. Department of Justice.
The investment organization holds stakes in several DP assets, including 45 per cent of its Canadian subsidiary, the report said, noting the Caisse’s investments are in DP World’s port projects and not the parent company.
The Caisse is also renewing a program that encourages Quebec-based companies to explore opportunities in technological innovation and artificial intelligence to support their growth and optimize their productivity.
Twenty companies from across Quebec took part in the program last year, according to a press release, which noted the participating firms represent a broad range of sectors, including engineering, insurance, manufacturing, technology, telecommunications and transportation.
“Renewing the program shows [the Caisse’s] commitment to making the expertise of its partner network available to local companies to support Québec’s economic development,” said Kim Thomassin, executive vice-president and head of Quebec, in the release.
Read: Caisse steering investments toward Quebec companies amid U.S. tariff threat
In other news, CPP Investments is acquiring a 50-per-cent ownership stake in Inkia Energy, a Peru-based power generation company. The investment is being completed alongside partner I Squared Capital, which will acquire the remaining 50 per cent of the company.
“The transaction reflects CPP Investments’ continued focus on long-duration power generation assets with strong governance and sustainability practices, alongside our experienced partner I Squared,” said Bill Rogers, managing director and head of sustainable energies at CPP Investments, in a press release.