CPPIB pledges up to $1 bln to acquire U.S. oil and gas assets

Canada Pension Plan Investment Board (CPPIB) has partnered with Encino Energy LLC to form Encino Acquisition Partners (EAP), a platform for making acquisitions of oil and gas assets in the United States. The Canadian pension fund has committed up to US$1 billion to the platform, while Houston-based Encino has committed US$25 million. The latter will originate, evaluate and execute deal opportunities, as well as manage the assets owned by EAP. It will target large, high-quality assets with an established base of production in mature U.S. basins.

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