The Carlyle Group Completes Acquisition of Red Oak Power Generation Facility
Carlyle’s Power Management Team Acquisitions Now Total More Than $1.2 Billion in
Enterprise Value Since Late 2012
Washington, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG), today
announced it has completed the acquisition of the Red Oak power generation facility located in
Sayreville, New Jersey. The acquisition was executed in conjunction with Cogentrix Energy
Power Management, LLC, which was acquired by Carlyle funds in late 2012, and brings the
total number of power generating facilities acquired since then to 11 with an aggregate
enterprise value of more than $1.2 billion. Financial terms were not released.
Robert Mancini, Carlyle Managing Director and Chairman of the Board of Cogentrix, said,
“This acquisition is a great opportunity to create value for our fund investors by taking
advantage of the changing power generation landscape in North America. We are excited to
add a modern, highly efficient, natural gas‐fired facility like Red Oak to our portfolio of power
Red Oak, acquired from Energy Capital Partners, is an 823‐MW, combined‐cycle power plant
and currently operates under a long‐term power purchase agreement. The facility is part of the
PJM Interconnection, the world’s largest and most liquid competitive power market.
Equity capital for this transaction came from Carlyle’s Power and Infrastructure funds.
Cogentrix, a Carlyle portfolio company, is a developer, operator and manager of independent
power plants in North America. Founded in 1983, Cogentrix has been directly responsible for
the development, engineering, construction, operation and management of a portfolio totaling
41 fossil and renewable power facilities with a combined generating capability of over 10,000