Dubai's DP World has another $4.5bn it wants to invest in terminals.
The ports and shipowning group is expanding a global platform set up with Canada's Caisse de depot et placement du Quebec (CDPQ) in 2016.
The venture has hit its first target of spending $3.7bn on stakes in 10 terminals since launching, as well as financing the existing portfolio in North America, South America and Asia Pacific.
The two companies said they will now "explore opportunities to expand in existing and new geographies", particularly in Europe, with the new cash.
The platform could also explore new investments in diversified and integrated supply chain support services, the two sides added.
DP World owns 55% of the investment platform, and CDPQ the remaining 45%.
The Dubai group's chief executive Sultan Ahmed Bin Sulayem said the partnership had so been "very successful".
Outlook positive despite pandemic
"The opportunity for the port and logistics industry is significant and the outlook remains positive as consumer demand triggers major shifts across the global supply chain," he added.
"Alongside CDPQ, a steadfast partner whose long-term vision we share, we look forward to working together on new investments that will connect key international trade locations worldwide."
The companies said that despite the impacts of Covid-19 and shifts in the global supply chain landscape, the ports sector has demonstrated a "fair degree" of resilience.
CDPQ's head of infrastructure Emmanuel Jaclot said: "The enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics.
"As we take the next step in our partnership, we will further diversify our geographic reach and look to seize new opportunities in a sector that, even during a uniquely challenging period, is driven by long-term fundamental trends.”
DP World has also been busy expanding its shipping business, acquiring offshore vessel player Topaz Energy and Marine and boxship lines Unifeeder and Feedertech in recent years.
Last month it moved for Transworld Feeders, Avana Logistek and subsidiary Avana Global.
These are the Indian coastal and export-import feeder operations of Transworld-owned Shreyas Shipping & Logistics, but the transactions excluded ships and the bulk business.
