Significant financial partners have suspended future investments with global ports operator DP World following revelations about CEO Sultan Ahmed bin Sulayem’s connections to convicted sex offender Jeffrey Epstein. Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), and British International Investment (BII), the UK’s development finance agency, have both paused capital deployment pending further investigation.
The decisions mark the first major business repercussions from the recently released Epstein documents. CDPQ, which holds a 45% stake in DP World Canada, stated it expects the company to “shed light on the situation and take necessary actions” before considering additional investments. BII expressed being “shocked by the allegations” regarding bin Sulayem and will withhold new investments across their four African port partnerships.
The suspensions follow the disclosure of extensive communications between bin Sulayem and Epstein spanning over a decade after Epstein’s 2008 conviction for child sex trafficking. Released emails show bin Sulayem discussing sexual exploits with Eastern European women and attempting to solicit a businesswoman for sexual purposes. More disturbingly, US Congressman Thomas Massie revealed bin Sulayem as the sender of a “torture video” to Epstein in 2009, a fact allegedly acknowledged by the Department of Justice.
DP World, owned by the Dubai government, represents crucial infrastructure investments for pension funds seeking stable long-term returns. CDPQ had committed $3.7 billion to DP World’s global ports since 2016, including a $2.5 billion investment in Dubai’s Jebel Ali facilities in 2022. The current suspensions reflect growing institutional investor sensitivity to governance and ethical considerations beyond financial returns.
The situation presents particular challenges given DP World’s government ownership and the UAE’s political structure. Unlike publicly traded companies facing shareholder activism, it remains uncertain whether bin Sulayem will face internal consequences within the monarchy’s power structure, despite his prominent international business profile.