HOUSTON, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Quantum Capital Group (“Quantum”) today announced that it has entered into definitive agreements to sell approximately 90% of the modern natural gas generation assets owned by Cogentrix Energy (“Cogentrix” or the “Company”), a premier U.S. independent power producer, to Vistra Corp. (NYSE: VST) for a total consideration of approximately $4.7 billion. The Company will retain its ownership interest in Cedar Bayou 4, a 550 MW natural gas-fired plant in Baytown, Texas.
Cogentrix is a leading developer, owner, and operator of power generation assets across the country, with a more than four-decade track record of delivering dependable power to communities and industries. Today, the Cogentrix platform provides approximately 5.5 gigawatts of capacity. With modern natural gas generation facilities located throughout PJM, ISO New England, and ERCOT, Cogentrix plays a key role in maintaining reliable and cost-efficient electricity supply.
Quantum acquired Cogentrix with the view that demand for clean, dispatchable generation had reached an inflection point and its conviction in the Company’s role as an essential provider of reliable and affordable power amid an evolving U.S. power landscape. Since the acquisition, U.S. electricity demand has reached all-time highs, driven by data center expansion, industrial growth, and broader electrification. The domestic power sector is experiencing record levels of investment that underscore the value of dependable, dispatchable power assets like Cogentrix’s fleet of gas generation assets.
“This highly successful partnership with Cogentrix highlights the scale and capabilities of the Quantum platform and our deep expertise across the gas-to-power space,” said Wil VanLoh, Founder and CEO of Quantum. “This transaction delivers a strong outcome for our investors and strategic partners in Cogentrix, including Williams, Trafigura Group, and Carnelian Energy Capital, and reinforces our long-standing belief in the critical importance of dependable power generation. We are pleased to become shareholders of Vistra and have strong confidence in Vistra’s ability to create long-term value through its industry-leading asset base and strategic execution.”
“We have been proud to work alongside the Cogentrix team to grow and enhance the business,” said Rob Meister, Partner at Quantum. “Their operational depth, commercial rigor, and thoughtful strategic approach were key to the partnership. Quantum’s investment in Cogentrix further demonstrates our focus on mission-critical infrastructure across the global energy value chain. The power sector has been, and will remain, a key focus area for Quantum.”
“Our partnership with Quantum was instrumental in advancing the company and preparing Cogentrix for its next phase,” said Jeff Ingraham, Interim CEO of Cogentrix. “As we join Vistra, we remain focused on operating safely, delivering reliable electricity, and continuing to drive innovation in the power sector.”
The transaction is expected to close in mid-to-late 2026, subject to certain regulatory approvals, including by the Federal Energy Regulatory Commission, the Department of Justice under the Hart-Scott-Rodino Act, and certain state regulatory approvals.
Evercore is serving as exclusive financial advisor, and King & Spalding LLP is serving as legal advisor, to Cogentrix Energy.
Goldman Sachs & Co. LLC. is serving as exclusive financial advisor, and Latham & Watkins LLP, Sidley Austin, LLP, and Cleary Gottlieb Steen & Hamilton LLP are serving as legal advisors, to Vistra.
About Quantum Capital Group
Founded in 1998, Quantum is a leading provider of private capital to the global energy and energy transition industry, having managed together with its affiliates more than $32 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumcap.com.
About Cogentrix
Founded in 1983, Cogentrix is a leading independent power producer with a long track record of successfully acquiring, developing, constructing, operating, and improving power generation assets across the United States. Further information is available at www.cogentrix.com.
Media Contacts
Quantum
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Joele Frank, Wilkinson Brimmer Katcher
Quantum-JF@joelefrank.com
212-355-4449
