CPP Investments to Invest $1.05 Bln in Stonepeak, Indirectly Acquire Castrol Stake

Stonepeak Infrastructure Partners has announced that CPP Investments will invest $1.05 bln in the firm, resulting in an indirect stake in Castrol. The investment will be made through a newly formed joint venture, which will acquire a majority stake in a portfolio of infrastructure assets, including Castrol, a leading lubricants and fuel additives business. The deal is expected to close in the second half of 2023.