Stonepeak Partners LP and Bernhard Capital Partners Management LP have agreed to acquire Cleco Group LLC, the parent of regulated Louisiana utility Cleco Power LLC, from a consortium comprised of Macquarie Asset Management, British Columbia Investment Management Corporation (BCI), and Manulife Investment Management. Cleco is a regulated electric utility headquartered in Pineville, Louisiana, with 1,200 employees serving approximately 298,000 residential, commercial and industrial customers across 24 Louisiana parishes, operating eight generating units with 2,676 MW of rated capacity. Upon closing, Stonepeak will hold the majority interest in the company. Cleco is expected to remain locally managed and operated, retain its workforce and benefits structure, and continue to be regulated by the Louisiana Public Service Commission. The sale follows an ownership search that began around June 2025. The transaction reflects continued private capital interest in North American power and grid infrastructure. No transaction value has been officially disclosed by the parties.