KKR Invests in Sempra Infrastructure

KKR & Co. and Canada Pension Plan Investment Board (CPP Investments) are set to acquire a 45% equity stake in Sempra Infrastructure Partners for $10 billion. The deal, expected to close between Q2 and Q3 2026, will see a KKR-led consortium become the majority owner with a 65% stake, while Sempra retains 25% and Abu Dhabi Investment Authority holds 10%. This values Sempra Infrastructure Partners at an equity value of $22.2 billion and an enterprise value of $31.7 billion.

This investment forms part of a larger $17 billion injection into the natural gas sector, driven by the energy demands of artificial intelligence. Sempra Infrastructure Partners is also advancing its Port Arthur LNG Phase 2 project in Texas, constructing natural gas liquefaction trains and storage facilities. Blackstone Credit & Insurance is leading a $7 billion investment, acquiring a 49.9% minority equity interest in the project, with Sempra Infrastructure Partners retaining a 50.1% stake. The project will add 13 million metric tons per annum of liquid natural gas capacity.

Sempra aims to focus on its U.S. utility growth, reducing exposure to non-utility investments. The KKR deal will provide Sempra with funds for growth and shareholder returns, while KKR gains a stronger position in energy infrastructure. Shares of Sempra and KKR saw a rise following the announcement.