Canadian investors and U.S. asset manager Blackstone to acquire stake in LNG Canada

BNN Bloomberg · The Canadian Press · 2026-11-03 14:58 UTC

Blackstone and four Canadian institutional investors have signed a US$3.1-billion deal to acquire a Mitsubishi Corp. subsidiary that holds an interest in LNG Canada.

TORONTO — U.S. asset manager Blackstone and four Canadian institutional investors have signed a US$3.1-billion deal to acquire a non-controlling stake in the Mitsubishi Corp. subsidiary that holds an interest in LNG Canada, the country’s first liquefied natural gas export facility.

The investor group includes the Canada Pension Plan Investment Board, the Ontario Municipal Employees Retirement System, the Investment Management Corp. of Ontario and the Public Sector Pension Investment Board. Blackstone and the funds are together acquiring a 49.9 per cent interest in the Mitsubishi unit.

“LNG Canada is a high-quality, globally strategic asset with strong long-term fundamentals and attractive return potential for the CPP fund,” Geoff Souter, managing director at CPP Investments, said in a news release Monday.

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