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KKR, PSP Gain Minority Stake in AEP Transmission Firms

Urja Daily by Urja Daily
January 16, 2025
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KKR, PSP
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Investment funds managed by KKR and the Public Sector Pension Investment Board (PSP Investments) inked an agreement to acquire a 19.9 per cent stake in American Electric Power’s (AEP) Ohio and Indiana & Michigan transmission companies for $2.82 billion. This investment will enable AEP to address growing customer demand and improve grid reliability. 

Furthermore, KKR and PSP Investments have formed a 50/50 strategic partnership to complete the acquisition. This transaction will provide essential funding to advance AEP’s infrastructure projects and enhance its service capabilities. Upon completion of the transaction, AEP will retain majority ownership and operational control of the transmission assets. 

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KKR is a global investment firm that provides alternative asset management, capital markets, and insurance solutions. It sponsors investment funds focused on private equity, credit, and real assets, and collaborates with strategic partners managing hedge funds. The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s pension investors, managing $264.9 billion in net assets as of March 31, 2024. Its diversified global portfolio includes investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit.

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