Seeking to simplify its business model, San Diego-based Sempra announced Tuesday the sale of 45% interest in its infrastructure business to private-equity giant KKR for $10 billion.

The utility holding company’s stock closed up nearly 5% on the New York Stock Exchange.

Sempra’s infrastructure unit operates liquefied natural gas terminals, gas pipelines, and clean energy solar and wind generating facilities.

Jeffrey W. Martin, chairman and CEO of Sempra, said the sale is “designed to simplify our business, efficiently fund strong utility growth in Texas and California and improve our financial strength.”

He added that the transaction “underscores our commitment to extend our strategic partnership with KKR, with whom we have a shared vision of improving America’s position as a global lea

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