OTPP and KKR completed the acquisition of an 80% stake in Caruna from FSI, Keva and OMERS.

Ontario Teachers' Pension Plan Board and KKR completed the acquisition of an 80% stake in Caruna, an electricity distribution company, from First Sentier Investors, a global asset management business, and OMERS, a Canadian pension fund. As part of the deal, AMF acquire a 12.5% stake. Financial terms were not disclosed. FSI has already completed its divestment of a 40% stake in Caruna, while OMERS' 40% stake sale is expected to close during the second quarter of 2021, pending regulatory approvals. After the transactions OTPP and KKR will own 40% stake each. "We are convinced that Caruna is well-placed to build a smart and weatherproof electricity network for its customers that will meet growing consumption needs while helping transition to a low-carbon economy. We are committed to investing in Caruna to achieve these goals," Dale Burgess, OTPP Senior Managing Director of Infrastructure & Natural Resources.