KKR and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors, have formed a 50-50 strategic partnership to acquire a 19.9 percent interest in American Electric Power’s (AEP) Ohio and Indiana & Michigan transmission companies for $2.82 billion.
AEP, one of the largest electric utilities in the United States, serves 5.6 million retail and wholesale customers across 11 states. The investment by KKR and PSP Investments in these two transmission companies will support AEP’s ability to meet increasing customer demand and enhance grid reliability.
After 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.
“KKR’s infrastructure business has a long track record of investing behind the energy transition and electrification opportunities, and this investment in AEP sits squarely at the
