Stonepeak, Bernhard Said to Near $6 Billion Deal for Cleco Power

A consortium including Macquarie Group Ltd. is nearing a deal to sell Louisiana utility Cleco Power to Stonepeak Partners LP and Bernhard Capital Partners for nearly $6 billion, according to people familiar with the matter.

A deal could be announced as soon as Monday, said the people, who asked to not be identified because the details aren’t public. Cleco’s other owners include British Columbia Investment Management Corp. and Manulife Investment Management. The deal is worth $5.75 billion to $6 billion, the people said.