Talen Energy Corp ownership disclosure: a group of affiliated ECP entities report shared beneficial ownership positions in Common Stock based on 47,894,656 shares outstanding as of June 18, 2026. The filing lists 2,399,998 shares (5.01% of the class) attributed to ECP ControlCo, LLC and ECP V, LLC and separately reports smaller holdings by affiliated Cornerstone DRE entities (for example, 1,156,685 shares by ECP V-D Cornerstone DRE, LP and 757,539 shares by ECP V-C Cornerstone DRE, LP). The statement is a joint Schedule 13G filing signed by Jennifer Gray on behalf of the reporting entities.
Positive
None.
Negative
None.
Insights
Affiliated private-equity entities disclose a >5% shared stake in Talen Energy.
The filing is a passive beneficial-ownership disclosure under Schedule 13G showing that affiliated ECP entities together report positions tied to 2,399,998 shares, equal to 5.01% of the issuer's stated 47,894,656 shares outstanding as of June 18, 2026. The filing also lists individual record holdings for Cornerstone DRE partnerships.
Timing and disposition authority are described as shared power in the cover entries; the filing disclaims active beneficial ownership by certain individuals. Subsequent filings would show any changes to position or filing status.
Key Figures
Shares outstanding:47,894,656 sharesShared beneficial ownership (ECP ControlCo / ECP V):2,399,998 sharesPercent of class (example):5.01%+5 more
8 metrics
Shares outstanding47,894,656 sharesas of June 18, 2026
Percent of class (example)5.01%derived from 2,399,998 / 47,894,656 as disclosed
ECP V-D Cornerstone DRE, LP holdings1,156,685 shareslisted in the filing's ownership breakdown
ECP V-C Cornerstone DRE, LP holdings757,539 shareslisted in the filing's ownership breakdown
ECP V Cornerstone DRE, LP holdings371,262 shareslisted in the filing's ownership breakdown
ECP V GP Cornerstone DRE, LP holdings62,259 shareslisted in the filing's ownership breakdown
ECP V-B Cornerstone DRE, LP holdings52,253 shareslisted in the filing's ownership breakdown
Key Terms
Schedule 13G, beneficial ownership, shared dispositive power, shared voting power
4 terms
Schedule 13Gregulatory
"This statement is filed on behalf of: ECP ControlCo, LLC ..."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
beneficial ownershipfinancial
"The ownership information presented herein represents beneficial ownership of Common Stock..."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared dispositive powerregulatory
"Shared Dispositive Power 2,399,998.00"
shared voting powerregulatory
"Shared Voting Power 2,399,998.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
What stake do ECP entities report in Talen Energy (TLN)?
They report shared beneficial ownership of 2,399,998 shares, representing 5.01% of the class based on 47,894,656 shares outstanding as of June 18, 2026. The amount is presented on the Schedule 13G cover pages.
Which ECP affiliates hold shares in the filing for TLN?
The filing is made on behalf of ECP ControlCo, LLC, ECP V, LLC and affiliated Cornerstone DRE partnerships, including ECP V-D, ECP V-C, ECP V Cornerstone, ECP V-B and ECP V GP Cornerstone DRE, LP.
How many shares does ECP V-D Cornerstone DRE, LP report owning?
The disclosure lists 1,156,685 shares of Common Stock held by ECP V-D Cornerstone DRE, LP, as shown in the ownership breakdown in the joint Schedule 13G.
What is the shares-outstanding figure used in the filing?
The Schedule 13G cites 47,894,656 shares outstanding as of June 18, 2026, a figure taken from the issuer's Form S-3 registration statement referenced in the filing.
Who executed the joint Schedule 13G for these ECP entities?
The filing is signed and executed by Jennifer Gray, listed as General Counsel and Executive Vice President, on behalf of the reporting entities on June 23, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Talen Energy Corp
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
87422Q109
(CUSIP Number)
06/15/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP ControlCo, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,399,998.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,399,998.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,399,998.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.01 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Limited Liability Company
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,399,998.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,399,998.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,399,998.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.01 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Limited Liability Company
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V GP Cornerstone DRE, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
62,259.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
62,259.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
62,259.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V Cornerstone DRE, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
371,262.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
371,262.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
371,262.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.8 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V-B Cornerstone DRE, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
52,253.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
52,253.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
52,253.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.1 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V-C Cornerstone DRE, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
757,539.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
757,539.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
757,539.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
87422Q109
1
Names of Reporting Persons
ECP V-D Cornerstone DRE, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,156,685.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,156,685.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,156,685.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.4 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Talen Energy Corp
(b)
Address of issuer's principal executive offices:
2929 Allen Pkwy, Suite 2200, Houston, TX, 77019
Item 2.
(a)
Name of person filing:
Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:
ECP ControlCo, LLC
ECP V, LLC
ECP V GP Cornerstone DRE, LP
ECP V Cornerstone DRE, LP
ECP V-B Cornerstone DRE, LP
ECP V-C Cornerstone DRE, LP
ECP V-D Cornerstone DRE, LP
(b)
Address or principal business office or, if none, residence:
The principal business office address for each of the Reporting Persons is c/o ECP ControlCo, LLC, 40 Beechwood Road, Summit, NJ 07901.
(c)
Citizenship:
Each of the Reporting Persons is organized under the laws of the State of Delaware.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP Number(s):
87422Q109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4.
The ownership information presented herein represents beneficial ownership of Common Stock as of the date of this filing, based upon 47,894,656 shares of Common Stock outstanding as of June 18, 2026, as disclosed in the Issuer's Form S-3 Registration Statement filed with the Securities and Exchange Commission on June 18, 2026.
The number of securities reported as beneficially owned herein includes: 62,259 shares of Common Stock held by ECP V GP Cornerstone DRE, LP; 371,262 shares of Common Stock held by ECP V Cornerstone DRE, LP; 52,253 shares of Common Stock held by ECP V-B Cornerstone DRE, LP; 757,539 shares of Common Stock held by ECP V-C Cornerstone DRE, LP; and 1,156,685 shares of Common Stock held by ECP V-D Cornerstone DRE, LP.
ECP ControlCo, LLC is the managing member of ECP V, LLC. ECP V, LLC, as a result of its indirect control over each of the following entities, may be deemed to share beneficial ownership of the securities held of record by each of ECP V GP Cornerstone DRE, LP, ECP V Cornerstone DRE, LP, ECP V-B Cornerstone DRE, LP, ECP V-C Cornerstone DRE, LP and ECP V-D Cornerstone DRE, LP.
ECP ControlCo, LLC is controlled by its board of managers, which consists of Douglas Kimmelman, Peter Labbat, Tyler Reeder, Rahman D'Argenio, Raoul Hughes and Xavier Robert, all of whom collectively share the power to vote and dispose of the securities beneficially owned by ECP ControlCo, LLC.
As a result of the relationships described herein, each of ECP ControlCo, LLC and the individuals named herein may be deemed to share beneficial ownership of the securities that may be deemed to be beneficially owned by ECP V, LLC. Each of them disclaims any such beneficial ownership.
(b)
Percent of class:
See the information contained on the cover pages to this Schedule 13G.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See the information contained on the cover pages to this Schedule 13G.
(ii) Shared power to vote or to direct the vote:
See the information contained on the cover pages to this Schedule 13G.
(iii) Sole power to dispose or to direct the disposition of:
See the information contained on the cover pages to this Schedule 13G.
(iv) Shared power to dispose or to direct the disposition of:
See the information contained on the cover pages to this Schedule 13G.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
ECP ControlCo, LLC
Signature:
/s/ Jennifer Gray
Name/Title:
Jennifer Gray, General Counsel
Date:
06/23/2026
ECP V, LLC
Signature:
By: ECP ControlCo, LLC, its managing member, /s/ Jennifer Gray
Name/Title:
Jennifer Gray, General Counsel
Date:
06/23/2026
ECP V GP Cornerstone DRE, LP
Signature:
By: Cornerstone DRE GP, LLC, its General Partner, /s/ Jennifer Gray
Name/Title:
Jennifer Gray, Executive Vice President
Date:
06/23/2026
ECP V Cornerstone DRE, LP
Signature:
By: Cornerstone DRE GP, LLC, its General Partner, /s/ Jennifer Gray
Name/Title:
Jennifer Gray, Executive Vice President
Date:
06/23/2026
ECP V-B Cornerstone DRE, LP
Signature:
By: Cornerstone DRE GP, LLC, its General Partner, /s/ Jennifer Gray
Name/Title:
Jennifer Gray, Executive Vice President
Date:
06/23/2026
ECP V-C Cornerstone DRE, LP
Signature:
By: Cornerstone DRE GP, LLC, its General Partner, /s/ Jennifer Gray
Name/Title:
Jennifer Gray, Executive Vice President
Date:
06/23/2026
ECP V-D Cornerstone DRE, LP
Signature:
By: Cornerstone DRE GP, LLC, its General Partner, /s/ Jennifer Gray
