DP World will hold a 55% share in the vehicle while Caisse de dépôt will own 45%
Dubai ports operator DP World said on Monday it was partnering with Canadian pension fund manager Caisse de dépôt et placement du Québec to create an investment vehicle worth $3.7 billion that would invest in ports and terminals worldwide.
DP World will hold a 55 percent share in the vehicle while Caisse de dépôt, a long-term institutional investor that manages funds for public pension and insurance plans, will own 45 percent.
The platform will have "a focus on investment-grade countries" excluding the United Arab Emirates, and will invest mostly in existing assets but with up to 25 percent in greenfield opportunities, DP World said.
The vehicle will be seeded with two of DP World's Canadian container terminals located on the Pacific coast in Vancouver and Prince Rupert, it added.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.