(By Balachander) Carlyle Group LP (NASDAQ:CG) announced that its infrastructure fund agreed to acquire U.S. power-plant developer Cogentrix Energy LLC from Goldman Sachs Group Inc. (NYSE:GS). Terms of the transaction were not disclosed.
The private equity firm said the assets held by Cogentrix include five coal and solar power projects in Florida (Cedar Bay), Virginia, Colorado and California, as well as a development pipeline of gas and renewable power projects.
Goldman Sachs, which bought Cogentrix in 2003, will retain a minority stake in Cedar Bay.
Carlyle recent investments include deal with Sunoco Inc. (SUN) to form Philadelphia Energy Solutions, a joint venture that will enable the Philadelphia refinery to continue operating.
As of June 30, 2012, Carlyle had $156 billion of assets under management across 99 funds and 63 fund of fund vehicles. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions.
The deal is expected to be completed in the fourth quarter.
CG shares closed at $26.20 on Thursday.