Simpson Thacher is advising KKR in connection with its $3.37 billion acquisition of a non-controlling, 20% interest in Sempra Energy’s (NYSE: SRE) new business platform, Sempra Infrastructure Partners. The transaction values Sempra Infrastructure Partners at approximately $25.2 billion, including expected asset-related debt at closing of $8.37 billion. The transaction is expected to be completed by mid-2021, subject to customary closing conditions, including consents from certain third parties and regulators.~~Sempra Infrastructure Partners combines the strengths of Sempra LNG, a leading developer of liquefied natural gas (LNG) export infrastructure, and IEnova (Infraestructura Energética Nova, S.A.B de C.V.), one of the largest private energy companies in Mexico and a leading developer and operator of renewables and natural gas infrastructure in that country.~~The Simpson Thacher team includes Breen Haire, Shamus Crosby, Tyler Cox, Michael Spirtos, Hunter Hampton, Grant Gannon and Siwei Yang (M&A); Nancy Mehlman and Joseph Tootle (Tax); Brian Steinhardt and Zachary Banks (Credit); Dennis Loiacono (Real Estate); Tristan Brown and Alyssa Ohanian (ECEB); Adeeb Fadil and Noreen Lavan (Environmental); Melanie Jolson (IP); and Étienne Renaudeau (Antitrust).