LS Power Group

CEO Michael D. Segal and President David A. Sloan, both co-founders, oversee all strategic decisions. Head of Private Equity Paul M. Yu leads fund-level investments. The firm does not rely on a single family principal but on a partnership of experienced energy infrastructure operators (per LSPower.com, 2026).

LS Power originates the vast majority of its opportunities through its internal development and regulatory teams. It identifies greenfield power plant and transmission projects, secures permits, and then either builds the assets itself or partners with co-investors. That development pipeline gives it proprietary access not available through auction processes (per the firm, 2026).

LS Power is structured as a privately held energy infrastructure firm, not a family office. It has no disclosed single-family wealth origin. The partnership is owned by its senior executives and has raised external institutional capital via closed-end private equity funds alongside its own balance sheet (per the firm, 2026).

LS Power primarily executes direct development and acquisition projects. However, it also raises and manages institutional funds through LS Power Equity Partners, which make primarily direct co-investments in power and energy assets. The firm does not act as a fund-of-funds (per the firm, 2026).

LS Power covers the full life cycle: greenfield development (pre-construction), construction-stage, and operational assets. It holds most assets long-term as an independent power producer while also monetizing certain positions through partial sales or public-market exits. The firm's natural bias is toward control or significant minority stakes in large energy projects (per the firm, 2026).

The firm avoids upstream oil-and-gas exploration and production, midstream natural gas liquids infrastructure, and traditional energy commodity trading. Its focus is strictly on power generation (thermal and renewable), transmission, and energy storage — all within regulated and merchant power structures (per the firm, 2026).

LS Power Equity Partners is the dedicated private equity investment arm of the group. It raises closed-end funds from institutional investors, and the firm's development, construction, and operations teams execute the projects those funds back. The partnership structure is fully integrated; there is no separation between 'developer' and 'asset manager' (per the firm, 2026).