CPPIB says committed up to $1 bln to buy U.S. oil and gas assets

Canada Pension Plan Investment Board (CPPIB) said it is investing up to $1 billion in a partnership with Encino Energy LLC to buy oil and gas assets in the United States.

The fund said the partnership, Encino Acquisition Partners, would focus on acquiring assets in mature basins.

Encino has committed $25 million to the partnership.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)