Canada Pension Plan Investment Board and Global Infrastructure Partners completed the acquisition of ALLETE for $6.2bn.

Canada Pension Plan Investment Board and Global Infrastructure Partners, private equity firms, completed the acquisition of ALLETE, an energy company, for $6.2bn. “We are excited about this next chapter in ALLETE’s long history and the new partnership with CPP Investments and GIP. It strengthens our ability to advance our infrastructure investments to ensure a reliable grid and achieve state clean-energy goals, all while preserving ALLETE’s legacy of local leadership and community focus,” Bethany Owen, ALLETE Chair, President and CEO.