Canada Pension Plan Investment Board (CPP Investments) is investing around $843m (€770.6m) in US energy infrastructure company Tallgrass Energy.
Tallgrass operates a network of more than 10,000 miles of pipeline assets across 14 states in the US.
In 2019, the open-ended Blackstone Infrastructure Partners fund invested $3.3bn for a 44% interest in Kansas-based Tallgrass Energy.
Bill Rogers, MD, global head of sustainable energies at CPP Investments, said: ”With a business strategy that combines traditional energy and decarbonisation solutions, Tallgrass is an attractive investment opportunity because of its dual role in delivering against growing energy needs and increasing decarbonisation opportunities.
“We are excited to partner with Blackstone and combine our investment and energy expertise to help support the Tallgrass team.”
Matthew Runkle, a senior MD and head of renewables and midstream within the infrastructure group at Blackstone, said, “Over the last five years, we have worked closely with Matt Sheehy and the Tallgrass management team to develop and operate industry-defining large-scale energy infrastructure.
“We are delighted to welcome our long-term partner, CPP Investments, as a new investor in Tallgrass, combining our resources to support Tallgrass for continued growth.”
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