AEP Closes $2.82 billion sale of 19.9% transmission stake to KKR and PSP Investments
American Electric Power said on June 5, 2025, that it closed a transaction in which KKR and PSP Investments paid $2.82 billion for a 19.9% equity interest in AEP's Ohio and Indiana Michigan transmission companies. AEP said the proceeds support its five-year, $54 billion capital plan, and AEP will continue to operate and maintain the facilities.
Key points
- Investor paid $2,820,000,000 for newly issued membership interests giving it 19.9% of Midwest Transmission Holdings, LLC; the closing occurred June 5, 2025.
- Investor is Olympus BidCo L.P., controlled by KKR funds and Public Sector Pension Investment Board (PSP Investments).
- Investor appointed two of the eleven directors on the company's board; it keeps that right while holding at least a 17.5% interest.
- AEP said the 19.9% stake represents about 5% of its total transmission rate base.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 09, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.