Sempra has agreed to sell a 45% stake in its infrastructure arm Sempra Infrastructure Partners to a consortium led by KKR and Canada Pension Plan Investment Board (CPPIB) in a $10bn deal that values the business at $22.2bn, according toto a report by Reuters.
The move highlights private equity’s growing appetite for large-scale energy assets amid rising demand for LNG and power infrastructure.
Following completion, expected in 2026, KKR and CPPIB will hold 65% of Sempra Infrastructure, while Sempra retains 25% and Abu Dhabi Investment Authority keeps 10%. The divestment will streamline Sempra’s business, reduce its reliance on equity issuance, and support its $56bn capex plan for 2025–2029.
The transaction coincides with a $14bn final investment decision on the expansion of the Port Arthur LNG project in Texas. Funding for the build-out includes a $7bn minority equity commitment led by Blackstone Credit & Insurance, alongside KKR, Apollo-managed funds, and Goldman Sachs Alternatives.
Port Arthur Phase 2 will add two liquefaction trains, a storage tank, and related infrastructure, boosting export capacity by 13 MTPA. Commercial operations are slated for 2030 and 2031, with much of the output already secured under long-term contracts with ConocoPhillips, JERA, and EQT.
