CD&R hires energy vet as operator

The addition of Lewis Hay, president and chief executive officer of NextEra Energy, brings CD&R's stable of operators to about 12.

Clayton Dubilier & Rice has appointed Lewis Hay, president and chief executive officer of NextEra Energy, as an operating advisor, according to a statement.

Upon joining CD&R in January, Hay will help the firm identify and evaluate a range of investment opportunities in industries including energy-related businesses that fit CD&R's services and distribution focus. His addition brings CD&R's stable of operators to about 12. 

Hay joined NextEra Energy in August 1999 as chief financial officer. Since then he has also acted as chairman and executive chairman. Juno Beach, Florida-based NextEra and its subsidiaries, Florida Power & Light Company and NextEra Energy Resources, focus on clean-energy electric power and production.   

Last month, CD&R appointed former president of PepsiCo John Compton as an operating advisor, and earlier this year the firm named chief executive officer of GE Energy John Krenicki as a senior operating partner in CD&R’s New York office.

Since it was founded in 1978, CD&R has managed more than $18 billion in 56 investments. CD&R is fundraising for its ninth fund, which has a $5 billion target. As of August the vehicle had collected about $2.65 billion. Fund IX will include a $250 million general partner commitment.