On September 23, 2025, Canada Pension Plan Investment Board (CPP Investments) has agreed to acquire an approximate 13 percent indirect equity interest in Sempra Infrastructure Partners from Sempra for about US$3.0 billion (approximately C$4.1 billion). The transaction, conducted alongside affiliates of KKR, a leading global investment firm and existing Sempra Infrastructure investor, underscores CPP Investments’ commitment to advancing energy transition goals. Sempra Infrastructure is a major North American energy company, operating natural gas pipelines, LNG export facilities, and over 1,600 MW of renewable generation in the US and Mexico. Max Biagosch, Senior Managing Director and Global Head of Real Assets at CPP Investments, emphasized the strategic value of partnering with KKR and Sempra to deliver reliable, sustainable energy solutions and long-term value to the CPP Fund. The deal is expected to close in the second or third quarter of 2026, subject to regulatory and other approvals.

BofA Securities is serving as financial advisor and Sullivan & Cromwell LLP as legal advisor to Sempra. Citi is acting as financial advisor and Simpson Thacher as legal advisor to KKR, while Kirkland & Ellis LLP is legal advisor to CPP Investments. For the Port Arthur Phase 2 project, Goldman Sachs & Co. LLC acted as exclusive Structuring Agent for Sempra Infrastructure Partners, with Sullivan & Cromwell LLP and Baker Botts LLP as legal counsel.