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EnCap closes Fund XI above target at USD7.0bn

EnCap Investments, a provider of capital to the independent sector of the US oil and gas industry with offices in Houston and Dallas, has closed EnCap Energy Capital Fund XI with capital commitments of USD7.0 billion, exceeding its target.

Fund XI provides growth capital to proven management teams focused on the upstream sector of the oil and gas industry in North America.
 
EnCap is led by seven managing partners including founders David B Miller, Gary R Petersen, D Martin Phillips and Robert L Zorich, as well as Jason M DeLorenzo, E Murphy Markham IV and Douglas E Swanson, Jr. Since the firm’s inception in 1988, EnCap has managed approximately USD34 billion of capital commitments on behalf of more than 350 institutional investors, investing in more than 240 companies and establishing its reputation as the preeminent source of growth equity to the oil and gas industry.
 
“We are extremely pleased to close Fund XI, our 20th institutional fund to date,” says Phillips, a Founder and Managing Partner at EnCap. “This fund represents a significant milestone in EnCap’s 29-year history and we are incredibly proud to have completed another successful fundraise. We see this latest close as a clear endorsement of our strategy and thank our new and existing investors for their partnership.”
 
Swanson, a Managing Partner, adds: “Fund XI allows us to continue to build upon our 29-year track record of building companies in the upstream sector with proven high quality management teams. The opportunity set for investment remains compelling and dynamic and we are pleased to have a new pool of capital from a diverse range of investors to begin taking advantage of opportunities in the marketplace.”

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