Sempra said on 12 November 2026 that it had completed the sale of a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR, with Canada Pension Plan Investment Board as an indirect co-investor, for about US$10bn.
Why KKR affiliates (with CPP Investments as indirect co-investor) is buying Sempra Infrastructure Partners (45% stake, from Sempra)
Sempra describes the sale as part of its capital recycling programme, aimed at simplifying its business model, strengthening its balance sheet and funding utility growth in Texas and California.
Deal terms and financing
The transaction, agreed in September 2025, valued SI Partners at an enterprise value of US$31.7bn. Sempra received US$4.56bn in cash at closing, subject to post-closing adjustments, with the remainder deferred under promissory notes. It deconsolidated SI Partners from 12 November and will account for its retained 25% under the equity method, expecting a preliminary pre-tax gain of about US$2.8bn to US$3.3bn.
Market context
The closing follows Sempra's sale of Ecogas México earlier in 2026. The Abu Dhabi Investment Authority affiliate retains its existing 10% stake in SI Partners.
