Investment funds managed by KKR, a global investment firm, and the Public Sector Pension Investment Board, one of Canada’s largest pension investors, announced an agreement to acquire a 19.9% interest in American Electric Power’s Ohio and Indiana & Michigan transmission companies for $2.82 billion.
KKR and PSP Investments have formed a 50/50 strategic partnership to pursue the acquisition.
Upon the closing of the transaction, AEP will remain the majority owner and operator of the transmission assets. KKR is funding this investment from its core infrastructure strategy.
The transaction requires approval from FERC and clearance from the Committee on Foreign Investment in the United States.
The transaction is expected to close in the second half of 2025.
