Global investment firm KKR is buying a stake in a Sempra Energy business unit that manages liquefied natural gas (LNG) projects on the Gulf Coast and in Mexico as it anticipates growth in North American energy infrastructure.

LNG exports

Under the terms of the deal announced Monday, KKR will pay  $3.37 billion for a 20% non-controlling interest in the Sempra Infrastructure Partners subsidiary.

“Over the next decade, we expect the energy markets in North America to continue to grow and become increasingly integrated,” Sempra CEO Jeffrey Martin said Monday. “Combining our resources with KKR improves our ability to capture new investment opportunities in cleaner forms of energy and the critical infrastructure that stores and transports it. This transaction also sends a clear signal about...