Caisse de dépôt et placement du Québec will be creating a $5-billion investment platform with DP World Ltd., a global port and terminal operator based in Dubai, United Arab Emirates.

Caisse will hold a 45 per cent share in the investment platform while DP World will hold the remaining 55 per cent.

Read: Caisse and partner invest in North American ambulance company

“Through this new investment platform with DP World, a world-class port and terminal operator, CDPQ will have unique access to high-quality transactions, and the opportunity to invest in the best port infrastructure worldwide,” said Michael Sabia, president and chief executive officer at Caisse.

The platform will invest in port and terminal businesses outside of the United Arab Emirates with a focus on investment grade countries. It will invest in mostly existing assets but could allocate up to 25 per cent in greenfield. Initially, it will include two Canadian container terminals in Vancouver and Prince Rupert, B.C.

Read: Caisse and partners fund Quebec beauty manufacturer’s U.S. acquisition

“As a first step, we are pleased to announce two key investments in British Columbia,” said Sabia. “We look forward to leveraging our in-house infrastructure expertise and DP World’s strong track record in the port sector to deliver attractive long-term returns for our clients.”

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required