Caisse partners with UAE firm to create $5-billion investment platform in ports
Posted Dec 2, 2016 03:31:21 PM.
Last Updated Dec 2, 2016 04:40:14 PM.
This article is more than 5 years old.
MONTREAL – The Caisse de depot et placement du Quebec is partnering with United Arab Emirates firm DP World to create a $5-billion investment fund that will focus on global ports and terminals outside the Middle Eastern country.
DP World will hold a 55 per cent stake in the venture with the Quebec pension fund manager holding the remaining 45 per cent.
The first investments announced Friday are a pair of DP World container terminals located in Vancouver and Prince Rupert, B.C.
The Caisse’s share of the investment is worth $865 million.
Even though the partnership will mainly invest in existing assets, it could devote up to 25 per cent of its funds in new installations.
