Sempra Divests 45% of Sempra Infrastructure Partners to KKR and CPP Investments for $10 Billion

KKR, Ontario Teachers' and PSP Investments Acquire Spark Infrastructure

December 22, 2021

Utilities

A consortium of KKR, Ontario Teachers' Pension Plan Board and PSP Investments completed an all-cash acquisition of Spark Infrastructure for approximately A$5.2 billion. The deal, which received all regulatory approvals, gives the investors ownership of Spark's stakes in SA Power Networks, Victoria Power Networks (Citipower and Powercor), a stake in TransGrid and the Bomen Solar Farm as they seek to support Australia’s transition to low-carbon electricity infrastructure.

Canadian Pacific Kansas City Acquires Kansas City Southern in $31 Billion Deal

December 14, 2021

Transportation

Canadian Pacific Railway Limited (CP) agreed to acquire Kansas City Southern (KCS) in a stock-and-cash transaction valued at about USD $29–$31 billion, including KCS debt. The companies placed KCS shares into a voting trust after closing while awaiting Surface Transportation Board (STB) approval, which is expected to determine final control and full integration.

EQT Infrastructure Acquires Cypress Creek Renewables

July 3, 2021

Renewable Energy

EQT Infrastructure V has agreed to acquire Cypress Creek Renewables, a vertically integrated U.S. solar and storage developer, owner and operator, from funds managed by HPS Investment Partners and Temasek. The deal will support Cypress Creek's growth plans — including investments in operations, digital and sustainability initiatives — and is expected to close subject to customary approvals in H2 2021.

CleanCapital Acquires 22.7 MW, 40-Asset Solar Portfolio From Kendall Sustainable Infrastructure

December 17, 2024

Renewable Energy

CleanCapital acquired a portfolio of 40 solar assets totaling 22.7 MW from Kendall Sustainable Infrastructure (KSI), expanding its operating distributed solar footprint across Vermont, New York and California. Manulife Investment Management and its institutional co-investors committed an additional $145 million of equity to CleanCapital to fund development, construction and future acquisitions; the sale closes out KSI’s first fund dedicated to community solar.

BKV Corporation Acquires Control Stake in BKV-BPP Power Joint Venture

January 30, 2026

Energy

BKV Corporation entered into a definitive purchase agreement to acquire from Banpu Power US Corporation (BPPUS) one-half of BPPUS’ interest in the BKV-BPP Power joint venture, increasing BKV’s ownership to 75% and granting majority control. The deal provides for cash and BKV common stock consideration and is expected to enable BKV to consolidate the Power JV’s financial results for a streamlined power operating and growth platform.

CPP Investments and Global Infrastructure Partners Acquire ALLETE in $6.2 Billion Deal

December 15, 2025

Energy

CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.