Following Carlyle’s sale of Copia Power to EQT, Carl Fleming discusses why private equity is investing beyond data centers and into AI power infrastructure with Pensions & Investments

In a recent Pensions & Investments article, Carl Fleming discusses how AI-driven power demand is pushing private equity investment beyond data centers and into power generation, transmission and other critical infrastructure.

Using McDermott’s recent representation of Copia Power in Carlyle’s sale of Copia to EQT, Carl noted that investors are becoming more selective, focusing on projects that can realistically secure power, approvals and meet customer timelines.

He expects acquisitions, joint ventures and infrastructure partnerships to remain active as sponsors seek greater control over the infrastructure needed to support AI development.