Carlyle Group to Acquire Six Power Plants in California, New Jersey

Global alternative asset manager The Carlyle Group

, today announced it has agreed to acquire the Red Oak power generation facility in Sayreville, New Jersey, and has separately closed on the purchase of five power plants in California. The acquisitions, which were executed in conjunction with Carlyle's power affiliate Cogentrix, bring the total enterprise value of power asset transactions since Carlyle funds acquired Cogentrix in late 2012 to more than $1.2 billion. Robert Mancini, Carlyle Managing Director and Chairman of the Board of Cogentrix, said, “Since Carlyle funds acquired Cogentrix, our power team has committed approximately $600 million of equity capital. The North American power generation sector is evolving, and we see significant