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EnCap raises USD2.5bn private equity energy fund

EnCap Investments, a private equity firm based in Houston and Dallas, has closed EnCap Energy Capital Fund VII with total capital commitments of USD 2.5 billion.

EnCap Investments, a private equity firm based in Houston and Dallas, has closed EnCap Energy Capital Fund VII with total capital commitments of USD 2.5 billion.

Since its inception in 1988, EnCap has managed over USD 6.5 billion of institutional capital. In the process of providing growth capital to over 150 companies, EnCap has established itself as a leading source of private equity to the upstream sector of the oil and gas industry.

David B. Miller, Gary R. Petersen, D Martin Phillips, and Robert L Zorich, Principals of EnCap, jointly state, "We are most appreciative of our existing investors whose ongoing support has helped us build this franchise over the past two decades, as well as the opportunity to enter into relationships with a number of new institutional partners.

‘It is always gratifying in a fundraising effort to reach your hard cap and end up substantially oversubscribed. We believe the high level of investor interest is largely due to our track record of consistently generating attractive returns across multiple industry cycles, in addition to the fact that we continue to see compelling investment opportunities in our space."

EnCap has already committed USD 550 million of EnCap Fund VII to nine portfolio companies, four of which are led by management teams that EnCap has successfully backed in prior funds

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