$27 Billion Energy Investment Group Quantum Capital Group to Buy United States Cogentrix with 11 Natural Gas-Fired Power Plants from Private Equity Firm Carlyle for $3 Billion
7th August 2024 | Hong Kong
Energy investment group Quantum Capital Group ($27 billion equity commitments) has announced to buy United States Cogentrix with 11 natural gas-fired power plants from private equity firm Carlyle for $3 billion. Announcement (5/8/24): “Quantum Capital Group and its affiliates (“Quantum”) today announced that it has entered into an agreement to acquire Cogentrix Energy (“Cogentrix” or the “Company”), a premier U.S. independent power producer, from funds managed by Carlyle (NASDAQ: CG) for a total consideration of approximately $3 billion. The Cogentrix platform is comprised of 5.3 gigawatts of efficient and flexible natural gas-fired power plants, located throughout PJM, ERCOT, and ISO-NE, which support the reliability, resiliency, and affordability of the U.S. electricity market. Headquartered in Charlotte, North Carolina, Cogentrix has a multi-decade track record of successfully acquiring, developing, constructing, operating, and optimizing conventional and renewable power generation assets throughout the U.S. Following transaction close, the Company will continue to be led by current CEO John Ragan and the existing Cogentrix management team.”
“ $27 Billion Energy Investment Group Quantum Capital Group to Buy United States Cogentrix with 11 Natural Gas-Fired Power Plants from Private Equity Firm Carlyle for $3 Billion “
About Quantum Capital Group – Founded in 1998, Quantum is a leading provider of private equity, credit, and venture capital to the global energy and energy transition industry, having managed together with its affiliates more than $27 billion in equity commitments since inception.
About Cogentrix – Founded in 1983, Cogentrix is a leading independent power producer with a long track record of successfully acquiring, developing, constructing, operating and improving power generation assets across the United States.
About Carlyle – Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents.
$27 Billion Energy Investment Group Quantum Capital Group to Buy United States Cogentrix with 11 Natural Gas-Fired Power Plants from Private Equity Firm Carlyle for $3 Billion
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