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KKR and PSP Investments Acquire Minority Stake in Two American Electric Power Transmission Companies
Investment to support modernization of infrastructure and increased reliability Strategic partnership comes as need for reliable power soars in the U.S. NEW YORK — Today, investment funds managed by KKR, a leading global investment firm, and th
NEW YORK -- Today, investment funds managed by KKR, a leading global investment firm, and the Public Sector Pension Investment Board (“PSP Investments”), one of Canada’s largest pension investors, announced an agreement to acquire a 19.9% interest in American Electric Power’s (“AEP”) Ohio and Indiana & Michigan transmission companies for $2.82 billion. Founded in 1906 and one of the largest electric utilities in the U.S., AEP has pioneered the country’s energy system through the delivery of safe, reliable and affordable energy for millions of homes. The investment will support AEP’s ability to meet increasing customer demand and enhance grid reliability. KKR and PSP Investments have formed a 50/50 strategic partnership to pursue the acquisition. Read More
