The low-profile Canadian who serves as one of Warren Buffett’s chief lieutenants is making a big bet on the economic potential of his home province amid speculation that he might one day succeed the famed investor at the helm of Berkshire Hathaway Inc.
Edmonton-born Greg Abel, 51, presides over Berkshire Hathaway Energy, the power and utility arm of the Oracle of Omaha’s sprawling conglomerate. He has earned plaudits for guiding the Iowa-based energy unit on an acquisition binge, including a $3.2-billion deal earlier this month for AltaLink, Alberta’s largest electrical transmission company.
More acquisitions may be in the works, he hinted in an interview, given Alberta’s rapid population growth and frenetic pace of economic expansion.
“We were excited when AltaLink came up because we just see, truly, a great place to invest and we want to be part of the significant investment that’s going on in that province,” Mr. Abel said, adding he had been looking for an opportunity to invest in Canadian energy infrastructure.
[H/T Linc]