A diversified approach
Diversification is an important investment tool for managing risk. A mix of assets helps the board secure the basic pension for every member.
The plan’s investment agent, BCI, invests in a wide range of opportunities. The investments reflect the board’s investment beliefs and the plan’s asset mix. Here is an example of a current investment.
Cleco is a regional energy holding company, with nearly 1,500 employees, headquartered in Pineville, Louisiana. It conducts business operations through its subsidiaries, Cleco Power and Cleco Cajun.
Cleco Power is a regulated electric public utility that owns 10 generating units with a rated capacity of 3,360 megawatts, 12,152 miles of distribution lines and 1,355 miles of transmission lines.
Cleco Cajun is an unregulated utility company that owns 14 generating units with a total rated capacity of 3,379 megawatts. It has wholesale contracts serving nine Louisiana cooperatives, three wholesale municipal customers and one electric utility.
BCI participated in a consortium of North American investors to acquire Cleco in 2016. In 2019, BCI invested additional capital in Cleco to acquire Cleco Cajun. The investment is held within BCI’s infrastructure and renewable resources program.