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Fundraising - JANUARY 25, 2017

DP World creates $3.7b investment vehicle

by Andrea Waitrovich

Dubai ports operator DP World has partnered 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 available for greenfield opportunities.

The vehicle will be seeded with two of DP World’s Canadian container terminals located on the Pacific Coast in Vancouver and Prince Rupert.

In separate news, DP World bought a 23.94 percent stake in Pusan Newport Co. from South Korean conglomerate Samsung Corp., raising its holding in the terminal to 66.03 percent. The port of Pusan is the sixth largest worldwide.

DP World has plans to continue its investment spree, targeting such countries as the Netherlands, India, United Kingdom and Turkey.

 

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