Cleco proposed majority acquisition
Stonepeak →Stonepeak and Bernhard Capital Partners agreed on 27 April 2026 to buy Cleco from Macquarie Asset Management, BCI and Manulife Investment Management. Stonepeak is expected to own the majority after closing, which remains subject to customary regulatory approvals in the announcement. Cleco serves approximately 298,000 customers across 24 Louisiana parishes and employs about 1,200 people. The buyers committed to local management, the Pineville headquarters, existing operations and employee compensation and benefits. Louisiana Public Service Commission regulation continues. The seller consortium invested approximately $3 billion over its ownership period; this is historical capital expenditure, not acquisition consideration. Greenhill advised Stonepeak and Simpson Thacher advised the buyer consortium.