CMA CGM in new terminal venture with private equity firm

The venture opened its doors with what are described as 10 key port assets on four continents:

• Fenix Marine Services (FMS) – Los Angeles
• Port Liberty terminals – New York and Bayonne
• Santos terminals – Brazil
• CSP Valencia and CSP Bilbao – Spain
• Terminal Marítima del Guadalquivir – Spain
• TTI Algeciras – Spain
• Nhava Sheva Freeport Terminal – India
• CMA CGM Kaohsiung Terminal – Taiwan
• Gemalink – Cai Mep, Vietnam

CMA CGM will hold 75% of United Ports, and retain full operational control.

The diversified services provider, which is controlled by the Saade family, plans to reinvest the $2.4 billion in its core transportation businesses across air cargo, ocean shipping, trucking, and logistics.

“Stonepeak is excited to partner with CMA CGM on this transformative platform,” the investor said in the release. “Container terminals are critical, hard‑to‑replicate infrastructure assets, and we see significant potential to work with CMA CGM to accelerate investment and growth in this sector.”

The venture marks the latest move in an expanding strategy by private equity to invest in ports, the powerful trade junctions connecting ocean lines’ global trade routes with land-based distribution systems. 

Stonepeak previously made investments in BMO, a trucking lender; bought Dupre Logistics and Air Transport Services Group; and owns chassis provider TRAC Intermodal. It manages assets of roughly $88 billion. 

Earlier this year, BlackRock (NYSE: BLK), the world’s largest private equity investor, led a consortium including Mediterranean Shipping Co. that hoped to acquire 43 terminals in 23 countries operated by CK Hutchison (0000.HK) of Hong Kong, the world’s largest port assets operator, for $23 billion. That deal was blocked by China. BlackRock Chairman Larry Fink called marine terminals as critical to the global economy as data centers and power grids.

The partners said that the ports venture is the beginning of a long‑term relationship between CMA CGM and Stonepeak, including new terminal projects in the U.S. and around the world.

As part of the transaction, Stonepeak will have the opportunity to contribute an additional $3.6 billion in funding for future joint terminal projects.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals.

Read more articles by Stuart Chirls here.

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