SCHEDULE 13G: Royal Bank of Canada Discloses 5.28% Stake in Brookfield Infrastructure Partners LP

Royal Bank of Canada has filed a Schedule 13G, reporting a beneficial ownership of 5.28% of Brookfield Infrastructure Partners LP's Common Stock as of December 31, 2023.

Summary

• Royal Bank of Canada (RBC) reported beneficial ownership of 24,422,990 shares of Common Stock in Brookfield Infrastructure Partners LP.
• This represents 5.28% of the issuer's class of securities, based on the event date of December 31, 2023.
• The filing was made under Rule 13d-1(b), indicating that RBC is a parent holding company and holds the shares in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• RBC holds shared voting power and shared dispositive power over all 24,422,990 beneficially owned shares, with no sole voting or dispositive power.
• The securities are held through RBC's subsidiaries, including RBC Capital Markets, LLC, a registered broker-dealer, and RBC Dominion Securities Inc., a non-U.S. institution.

Sentiment

Score: 5

Explanation: Neutral. This is a factual, mandatory disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership disclosure.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Terry Fallon, Managing Director of Royal Bank of Canada).

Industry Context

This filing is a standard regulatory disclosure for large institutional investors crossing the 5% ownership threshold in a publicly traded company. It indicates a significant, passive investment by a major financial institution (Royal Bank of Canada) in an infrastructure-focused limited partnership (Brookfield Infrastructure Partners LP), which is common practice for diversified investment portfolios.

Stakeholder Impact

• Shareholders of Brookfield Infrastructure Partners LP will be aware of Royal Bank of Canada's significant, passive stake, which may be viewed as a vote of confidence from a major financial institution.

Key Dates

Keywords

Royal Bank of Canada, Brookfield Infrastructure Partners LP, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, RBC Capital Markets, RBC Dominion Securities