CPPIB is investing in Sempra Infrastructure Partners one month after selling its stake in Transportadora de Gas del Peru S.A.

The investment arm of Canada Pension Plan is writing a multi-billion-dollar cheque to buy a minority stake in Sempra Infrastructure Partners alongside private equity giant KKR, showing its commitment to natural gas assets for years to come.

Based in San Diego, Sempra is spinning out the infrastructure arm by selling a 45-per-cent-stake to KKR and Canada Pension Plan Investment Board for a total of US$10-billion. The division develops, owns and operates natural gas pipelines, power generation assets and liquefied natural gas export facilities in the United States and Mexico.

After the sale, KKR, which is already a minority investor in the business, will become the

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