Carlyle Group (CG) Appoints Bob Mancini to Head Infrastructure Fund
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Price: $44.14 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 13.4%
Revenue Growth %: -41.4%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 13.4%
Revenue Growth %: -41.4%
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The Carlyle Group (Nasdaq: CG) named Robert Mancini a Managing Director and Co-head of the Infrastructure Fund, joining founding Co-head Robert Dove. Mr. Mancini is currently a Managing Director at The Goldman Sachs Group Inc. (NYSE: GS) with responsibility for power asset investments made through Cogentrix Energy, LLC, an independent power producer and wholly owned subsidiary of Goldman Sachs. Mr. Mancini is currently also the CEO of Cogentrix. He will join Carlyle upon the completion of the acquisition, expected in the fourth quarter of 2012, by Carlyle of Cogentrix’s North American business and will be based in New York.
On September 7, 2012, Carlyle agreed to buy the North American power generation assets held by Cogentrix Energy, LLC, which include five coal and solar power projects in Florida, Virginia, Colorado and California, as well as a development pipeline of gas and renewable power projects. The transaction includes the Charlotte, North Carolina-based Cogentrix team, including professionals who will continue to initiate new power generation projects and acquisitions as well as bring their power asset management and operating expertise to Carlyle’s future investment activity in the power sector.
Mr. Mancini joined Goldman Sachs in 1993 and served in several legal roles in the U.S. and Asia where he focused on fixed income, currency and commodities. In 2004 he moved to the Commodities business and became Co-head of Goldman Sachs’s North American Power Asset Business and Co-President and Chief Commercial Officer of Cogentrix, which Goldman Sachs purchased in 2003.
On September 7, 2012, Carlyle agreed to buy the North American power generation assets held by Cogentrix Energy, LLC, which include five coal and solar power projects in Florida, Virginia, Colorado and California, as well as a development pipeline of gas and renewable power projects. The transaction includes the Charlotte, North Carolina-based Cogentrix team, including professionals who will continue to initiate new power generation projects and acquisitions as well as bring their power asset management and operating expertise to Carlyle’s future investment activity in the power sector.
Mr. Mancini joined Goldman Sachs in 1993 and served in several legal roles in the U.S. and Asia where he focused on fixed income, currency and commodities. In 2004 he moved to the Commodities business and became Co-head of Goldman Sachs’s North American Power Asset Business and Co-President and Chief Commercial Officer of Cogentrix, which Goldman Sachs purchased in 2003.
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