Milbank LLP is advising the lenders to KKR in connection with KKR affiliates’ acquisition of a 45% equity interest in Sempra Infrastructure Partners, one of North America’s leading energy infrastructure platforms, with Canada Pension Plan Investments Board (CPP Investments).
The transaction is expected to close in Q2–Q3 2026, subject to necessary regulatory and other approvals and closing conditions. Upon closing, a KKR-led consortium will become the majority owner of Sempra Infrastructure Partners, holding a 65% equity stake, while Sempra will retain a 25% interest alongside Abu Dhabi Investment Authority's (ADIA) existing 10% stake. Under the terms of the agreement, Sempra and ADIA will have certain minority rights in Sempra Infrastructure Partners.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partners Dan Bartfeld and Sean O’Neill and Global Leveraged Finance partner Benjamin Sayagh. The team also included Global Project, Energy and Infrastructure Finance Group special counsel Séverine Losembe and associates Alfredo Palasciano and Joshua Singer; Global Leveraged Finance special counsel Katie Forer and associates James Wang, Lilia Chu, Jordan Hall, Catherine Cohen and Yuna Pyun; Global Corporate/M&A partner Douglas Howell; and Structured Credit partner Elizabeth Martinez and associate Jessica Miller.
