The Carlyle Group, the listed, Washington-based private equity firm, is making a talent acquisition from Cogentrix Energy LLC, the power producer it acquired earlier this month from The Goldman Sachs Group. The PE firm is appointing Robert Mancini as MD and co-head of its infrastructure fund alongside Robert Dove. Mancini will join Carlyle formally once the deal has completed.
WASHINGTON– Global alternative asset manager The Carlyle Group today 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.
Robert Dove said, “We are pleased to welcome Bob to Carlyle. Bob’s wealth of experience in leading the acquisition, development and operation of power generating facilities will play a significant role as we pursue an active program of acquiring and developing power projects across North America.”
Robert Mancini said, “This is a rare opportunity to help lead Carlyle’s expansion into this critical sector. I look forward to building upon Carlyle’s established infrastructure platform as we grow its investments in the power sector through a combination of development and acquisitions.”
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.
Carlyle Infrastructure Partners is a $1.14 billion fund that invests in public and private infrastructure projects and businesses around the globe. Current Carlyle Infrastructure Partners investments include Illinois Central School Bus, a Midwest school bus transportation business; ITS Technologies & Logistics, which performs lift-on / lift-off of containers from trains and trucks; Project Service, an innovative partnership with the State of Connecticut to redevelop, operate and maintain Connecticut’s 23 highway service areas; Western Water Holdings, which operates water utilities in California and Montana; and Qube Logistics, an Australian integrated provider of import and export logistics services.
Mr. Mancini, age 54, earned his J.D. from the New York University School of Law and his B.A. from the State University of New York at Binghamton.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $156 billion of assets under management across 99 funds and 63 fund of fund vehicles as of June 30, 2012. Carlyle’s purpose is to invest wisely and create value. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,300 people in 32 offices across six continents.