CPP Investments, KKR to Acquire Major Stake in Sempra Infrastructure

SEATTLE (Oil Monster): An agreement has been reached by the Canada Pension Plan Investment Board (CPP Investments) and affiliates of the international investment firm KKR to purchase a significant portion of Sempra Infrastructure Partners, a prominent natural gas pipeline company in North America.

Subject to obtaining the required regulatory and other approvals, the deal is anticipated to completion between the second and third quarters of the following year.

According to a statement from CCP Investments, the investment is worth about $3 billion. In light of this, it will indirectly own 13% of Sempra Infrastructure.

After the deal closes, the Abu Dhabi Investment Authority (ADIA) will keep 10% of the business, Sempra will keep 25%, and the consortium led by KKR and CPP Investments will have 65% of the business.

CPP Investments' Senior Managing Director and Global Head of Real Assets, Max Biagosch, emphasized the deal's strategic significance. He said that CPP Investments will be in a position to promote long-term value development on a top-notch energy infrastructure platform thanks to its collaboration with prestigious organizations like KKR and Sempra. Additionally, Biagosch stated that it will assist CPP Investments in providing the Canada Pension Plan fund with long-term value.

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