The Carlyle Group announced it has completed fundraising for Carlyle Power Partners II with more than $1.5 billion in commitments, targeting investments in power generation assets across North America.
The fund will leverage the technical, engineering, and operational capabilities of Cogentrix Energy, Carlyle’s power platform based in Charlotte, North Carolina, to identify, acquire, and enhance energy infrastructure assets.
Carlyle Power Partners II is already deploying capital, with three transactions announced following its initial close, including investments in gas-fired power plants. The strategy focuses on capitalizing on evolving market dynamics and regulatory changes within the power generation sector.
Following the acquisition of Essential Power, the Carlyle Power Partners portfolio will include 28 facilities with a combined capacity exceeding 5,800 megawatts, reflecting the firm’s growing footprint in energy infrastructure.
Carlyle launched its power investment platform in 2012 with the acquisition of Cogentrix and five operating assets. Since then, the firm has expanded its portfolio through investments in 25 additional power plants across the United States.
The fundraise underscores Carlyle’s continued focus on real assets and energy infrastructure as part of its broader investment strategy across global markets.
KEY QUOTES
“We appreciate the strong show of support that we received from our current and new investors for our second power fund. We believe CPP II is well positioned to capitalize on the market and regulatory forces driving major changes across the power generation landscape.”
Bob Mancini, Managing Director And Co-Head Of The Carlyle Power Partners Team, The Carlyle Group
“CPP II is off to a strong start, with three transactions announced since our initial closing, each involving highly competitive gas-fired power plants. Our experienced team brings a strong understanding of changes and trends, and an ability to improve the assets we acquire.”
Matt O’Connor, Managing Director And Co-Head Of The Carlyle Power Partners Team, The Carlyle Group
