DP World (DPW.DI) announced the creation of an USD3.7bn investment vehicle in partnership with Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers, with DP World holding a 55% share and CDPQ the remaining 45%. The platform will invest in ports and terminals globally (excluding the UAE), with a focus on investment grade countries, where it will invest mostly in existing assets, but will allocate up to 25% of investment for greenfield opportunities. The investment vehicle will be seeded with two of DP World’s Canadian container terminals, located on the Pacific Coast in Vancouver and Prince Rupert, with CDPQ acquiring a 45% stake of the combined assets for USD640mn. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said that the partial monetisation of DP World’s Canadian assets further strengthens its balance sheet, while retaining control. CDPQ’s investment in the two Canadian terminals are subject to a number of customary regulatory approvals. (Media Release)   DP World (DU): AED15.53 as of 1 Dec 2016, Rating: Buy, FV: AED22.00/share, MCap: USD12,890mn, DPW DU / DPW.DI