Blackstone-led group to invest $3.1bn in Mitsubishi’s LNG Canada stake

A Blackstone-led investor group has agreed to invest $3.1bn for a 49.9% stake in a subsidiary holding Mitsubishi’s interest in the LNG Canada project situated in Kitimat, British Columbia.

The consortium involves the Canada Pension Plan Investment Board (CPP Investments) and Ontario Municipal Employees Retirement System (OMERS).

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The Investment Management Corporation of Ontario (IMCO) and the Public Sector Pension Investment Board (PSP Investments) are also participating in the investment in partnership with funds managed by Blackstone Credit & Insurance.

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