Quantum Capital to Buy Cogentrix From Carlyle for $3 Billion

Quantum Capital Group, a Houston private equity firm, agreed to buy independent power producer Cogentrix Energy from funds managed by Carlyle for $3 billion.

Cogentrix is based in Charlotte, North Carolina, and has about 5.3 gigawatts of natural gas power plants in the Northeast, Texas and on the grid that stretches from New Jersey to Illinois, according to a statement from Quantum Monday.

The deal comes as forecasts for power demand in the US have surged thanks to development of artificial intelligence and data centers. It’s expected to close between the fourth quarter of 2024 and the first quarter of ...