Sempra announced it has agreed to sell a 45% equity interest in Sempra Infrastructure Partners to affiliates of investment firm KKR and Canada Pension Plan Investment Board for $10 billion. This transaction is a key component of Sempra's ongoing capital recycling program.
The divestiture is designed to strengthen Sempra's balance sheet and increase its focus on regulated utilities in the U.S., particularly in high-growth markets like Texas and California. The agreement values Sempra Infrastructure Partners at $22.2 billion in equity and $31.7 billion in enterprise value.
The transaction is expected to close in the second or third quarter of 2026, subject to customary closing conditions and regulatory approvals. This strategic move aligns with Sempra's stated goal of simplifying its business model and minimizing reliance on future common equity issuances to fund its ambitious capital plan.
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