Canada

Canada’s second-largest pension fund said it would halt future deals with Dubai’s DP World following revelations of ties between the logistics company’s chief executive Sultan Ahmed bin Sulayem and sex offender Jeffrey Epstein.

La Caisse, Quebec’s state pension fund, which has invested billions of dollars in port projects around the world with the group, said it was “pausing additional capital deployment alongside the company”.

The fund is the first of DP World’s global partners to halt deals with the logistics group following the publication of messages between Sulayem and Epstein, which were included in the US Department of Justice’s release of documents related to the disgraced financier.

The C$496bn (US$366bn) pension fund said it had “made it clear to the company that we expect it to shed light on the situation and take the necessary actions”, stressing it was “important to distinguish the company, DP World, from the individual, Sultan Ahmed bin Sulayem”.