Sempra has agreed to sell 45 percent of its equity interests in its growth platform, Sempra Infrastructure Partners, to an investment entity owned by affiliates of Kohlberg Kravis Roberts & Co. and Canada Pension Plan Investment Board for approximately $10 billion. The transaction will value Sempra Infrastructure Partners at an enterprise value of $31.7 billion and was announced concurrently with the final investment decision for the second phase of the Port Arthur LNG project. The transaction is expected to close in Q2 or Q3 of 2026, subject to various closing conditions.
Following the closing of the sale, the KKR-led consortium will own a controlling interest in Sempra Infrastructure Partners.
S&C has previously advised Sempra and Sempra Infrastructure on some of their most significant project financings and energy projects, including the development of the Port Arthur LNG Phase 1 project and other financings.
Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. Sempra Infrastructure Partners is a business platform that builds, operates and invests in energy infrastructure to help enable the energy transition in North American markets and globally.
The core S&C team includes Inosi Nyatta, Mimi Wu, Nick Baker, Will Bekker, Ben Zonenshayn, Julia Liu, Antony Chu, Amra Saric, Kelvin Kim and Russell Green. Isaac Wheeler, Stephen Profeta and Minkee Sohn are advising on tax matters. Heather Coleman and Lauren Appel are advising on executive compensation and benefits matters. Mehdi Ansari and Jay Thornton are advising on intellectual property matters. Tia Barancik is advising on regulatory matters. Joe Matelis is advising on U.S. competition matters, and Shane Palmer is advising on HSR matters. Juan Rodriguez, Axel Beckmerhagen and Daniela Hohwieler are advising on foreign competition matters.