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Why Carlyle Group Shares Are Diving Today

The Carlyle Group Inc. (NASDAQ:CG) shares are trading lower today. The company inked a deal to sell Cogentrix Energy to Quantum Capital Group and its affiliates for around $3 billion. The Cogentrix platform includes 5.3 gigawatts of efficient natural gas-fired power plants across PJM, ERCOT, and ISO-NE, enhancing the reliability, resilience, and affordability of the U.S. electricity market. The transaction, pending regulatory approvals, is expected to close between the fourth quarter of 2024 and the first quarter of 2025. Matt O’Connor, a Partner within Carlyle’s Global Infrastructure team, said, “This is a win-win transaction for everyone involved as Cogentrix begins its next ...