Texas Genco

Texas Genco

Texas Genco is a major power generation firm, active in the deregulated Texas electricity market and owns several major power plants in the Houston area that serve area power needs.

Seeking opportunities arising out of the deregulation of the electricity industry in Texas, in late 2004 four private equity firms—the Texas Pacific Group, the Blackstone Group, Kohlberg Kravis Roberts, and Hellman & Friedman of San Francisco—combined forces to purchase Texas Genco from the transmission & distribution provider utility Centerpoint Energy for Houston.

This coalition of firms acquired Texas Genco—which was the second largest operator of power generation facilities in the state—for a price of approximately $1.9 billion and using just $900 million in cash.

In late 2005, these private equity firms announced the sale of Texas Genco to NRG Energy of Princeton, N.J., for a price of roughly $5.9 billion. The investors achieved a gain of almost $5 billion over the space of an investment holding period of less than 18 months, a return that will mark one of the most lucrative private equity investments in recent years.

See also


External links

*Deregulation of the Texas electricity market
* [http://www.nytimes.com/2005/11/23/business/23place.html?ex=1290402000&en=af94e061d03d0756&ei=5090&partner=rssuserland&emc=rss "The Deal That Even Awed Them in Houston," by Simon Romero, "The New York Times"]

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Planta de energía nuclear South Texas — South Texas Project Empresa Texas Genco LLC 44% Ciudad de San Antonio 40% Ciudad de Austin 16% Tipo de reactor Reactor de agua presurizada Proveedor del reactor Westinghouse Generadores de vapor Westinghouse Capacidad 2.500 megavatios Arq …   Wikipedia Español

  • TPG Capital — TPG redirects here. For other uses, see TPG (disambiguation). TPG Capital (formerly Texas Pacific Group) Type Private Ownership Industry Private Equity Founded 1992 …   Wikipedia

  • NRG Energy — Reliant Energy redirects here. For the company that formerly held this name, see RRI Energy. NRG Energy Type Public Traded as NYSE: NRG …   Wikipedia

  • CenterPoint Energy — (NYSE: CNP) is an electric and natural gas utility serving several markets in the U.S. states of Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. It was formerly known as Reliant Energy (from which it is now separated), NorAm… …   Wikipedia

  • Kohlberg Kravis Roberts — Infobox Company company name = Kohlberg Kravis Roberts Co. company company type = Partnership foundation = 1976 location = 7 offices in 5 countries key people = Henry Kravis, Senior Partner George R. Roberts, Senior Partner industry = Private… …   Wikipedia

  • Private equity in the 21st century — relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub industries, leveraged buyouts and venture capital experienced growth along parallel although… …   Wikipedia

  • Hellman & Friedman — Infobox Company company name = Hellman Friedman LLC company type = Private Ownership, LLC company foundation = 1984 location = industry = Private Equity products = Leveraged Buyout|, Growth capital assets = $16 billion [Capital raised since… …   Wikipedia

  • Blackstone Group — The Blackstone Group L.P. Rechtsform Limited Partnership ISIN U …   Deutsch Wikipedia

  • The Blackstone Group — L.P. Unternehmensform Limited Partnership ISIN …   Deutsch Wikipedia

  • List of Ig Nobel Prize winners — This is a list of Ig Nobel Prize winners from 1991 to the present day. A parody of the Nobel Prizes, the Ig Nobel Prizes are given each year in early October around the time the recipients of the genuine Nobel Prizes are announced for ten… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”