EnCap Raises $5 Billion Private Equity Fund

EnCap Raises $5 Billion Private Equity Fund

EnCap Investments has closed EnCap Energy Capital Fund IX, L.P., with $5 billion of limited partner capital commitments. Fund IX, which reached its $5 billion hard cap and was significantly oversubscribed, provides growth capital to management teams focused primarily on the upstream sector of the oil and gas industry in North America.

EnCap is led by the firm’s four managing partners, David Miller, Gary Petersen, D. Martin Phillips and Robert Zorich.

“Our existing investors’ strong support of Fund IX resulted in a very quick and very successful fundraise. We’ve had the good fortune now of having our last three funds heavily oversubscribed, and we couldn’t have done it without the longstanding relationships we have with so many highly respected limited partners,” said Mr. Zorich.

Since its inception in 1988, EnCap has managed approximately $18 billion of capital commitments from some 300 institutional investors and provided growth capital to more than 190 companies.  To date, EnCap has committed approximately $350 million to three portfolio companies in Fund IX, including Common Resources III, Paloma Partners III and PayRock Energy.

EnCap has consistently generated superior returns across multiple industry and hydrocarbon price cycles by applying a lower-risk, disciplined philosophy that balances capital preservation and value creation.  The firm was founded in 1988 and has offices in Houston and Dallas (www.encapinvestments.com).

“Building on the success of our 25-year history, we are pleased to have a fresh pool of capital to back the highest quality management teams in what remains a robust investment environment in the upstream sector of the oil and gas industry,”  said Mr. Petersen.

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-4-13

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