Canadian pension fund suspends business dealings with UAE company due to Epstein connections

La Caisse Suspends Investments with DP World Over CEO’s Ties to Epstein

Canada’s second-largest pension fund, La Caisse, has announced that it will suspend future investments with Dubai-based DP World until the company sheds light on its chief executive’s links to late financier Jeffrey Epstein. The decision comes after the release of millions of files by the US Justice Department, which revealed years of communications between DP World CEO Sultan Ahmed bin Sulayem and Epstein.

According to a statement from La Caisse, the pension fund is not invested in DP World but has partnered with the company on port projects worldwide. However, the pension fund expects DP World to provide clarity on its relationship with bin Sulayem and take necessary actions.

The US Justice Department files revealed discussions between bin Sulayem and Epstein about the Emirati businessman’s relationships with women and plans to visit Epstein’s home. Democratic lawmaker Ro Khanna named bin Sulayem as one of six men whose identities had been previously redacted from the files, but did not allege any specific criminality.

DP World operates over 60 ports and terminals worldwide and counts La Caisse as a major investment partner through its joint venture DP World in Canada. The company has announced plans to build a container terminal at the Port of Montreal, adding to its port operations in Vancouver, Fraser Surrey, Nanaimo, Prince Rupert, and Saint John.

La Caisse manages 473.3 billion Canadian dollars ($350bn) in assets as of December 2024 and has invested in various DP World projects outside of Canada, including $2.5bn in Jebel Ali Port, the Jebel Ali Free Zone, and the National Industries Park in 2022.

DP World did not immediately respond to requests for comment on the suspension of investments with La Caisse.

Source: Al Jazeera