Brookfield Infrastructure Partners (BIP), a Toronto-based energy investor, has kicked off the sale of its Marlborough, Mass.-based Cross Sound Cable Co. Teasers have been distributed and first round bids are due in early November, with a goal to sign a purchase and sale agreement with the winning party toward year's end. Citigroup Inc. and HSBC Bank have snagged the sellside mandate. If a transaction occurs, it will be subject to regulatory approvals by various agencies, including the Federal Energy Regulatory Commission. The asset, which went into commercial operation in February 2005, is highly attractive as it provides a stable cash flow, due to its entire transmission capacity being contracted to the Long Island Power Authority until 2032. Also, there is a dearth of transmission opportunities as the majority of transmission businesses in the U.S. are owned by regulated utilities. The Deal's Amanda Levin reports from New York.