Canada’s second-largest pension fund, La Caisse, has decided to suspend future investments with Dubai-based logistics giant DP World due to emerging concerns regarding the company’s chief executive, Sultan Ahmed bin Sulayem, and his connections to the late financier Jeffrey Epstein. This decision was publicly announced on Tuesday, emphasizing the need for greater transparency from DP World regarding these ties.
La Caisse clarified that it does not hold shares in DP World, but rather partners with the company on various port projects worldwide. A spokesperson for the fund confirmed that the organization is awaiting an explanation of bin Sulayem’s connections to Epstein, indicating that further investments will not proceed until appropriate actions are taken.
The move follows a major release of documents by the US Justice Department that exposed extensive communications between bin Sulayem and Epstein. These files reportedly include discussions regarding bin Sulayem’s relationships and plans to visit Epstein’s residence. The recent revelations prompted Democratic lawmaker Ro Khanna to name bin Sulayem on the floor of the US House of Representatives as one of several individuals whose ties to Epstein had been previously redacted. While Khanna did not make any specific allegations of wrongdoing against bin Sulayem, the implications of being mentioned in the Epstein files raise significant concerns.
Notably, Khanna also referenced American billionaire Les Wexner, who has distanced himself from Epstein, claiming lack of knowledge about the financier’s illicit activities. The only person to have been charged in connection with Epstein’s crimes, apart from Epstein himself, is Ghislaine Maxwell, who is currently serving a 20-year sentence for child sex trafficking.
As of now, both DP World and bin Sulayem have not publicly addressed the allegations or the implications stemming from the Justice Department’s document release. DP World operates over 60 ports and terminals around the globe, with La Caisse being a substantial investment partner in certain joint ventures, including operations in Canada.
Recently, DP World in Canada announced plans for the construction of a new container terminal at the Port of Montreal, further expanding its Canadian operations, which already include locations in Vancouver, Fraser Surrey, Nanaimo, Prince Rupert, and Saint John. La Caisse, which manages assets totaling 473.3 billion Canadian dollars (approximately $350 billion), has previously invested significantly in various DP World initiatives, including a notable $2.5 billion investment in key assets within the UAE.
