EnCap Investments has closed EnCap Energy Capital Fund X, LP (Fund X) with $6.5 billion of limited partner capital commitments. The close was at the $6.5 billion hard cap and was oversubscribed. The firm’s earlier fund – EnCap Energy Capital Fund IX, LP – closed with $5 billion of limited partner capital commitments in February 2013.
“We are very fortunate to have received such strong support from our existing investor base, especially during a period of significant volatility in our industry,” said Doug Swanson, Managing Partner. “Our long-term partnership with many high-quality institutions and our extensive track record in the business allowed for a quick and efficient fundraise, which positions us well to respond to the market opportunities that are likely to arise in this cycle.”
EnCap provides growth capital to North American companies operating in the upstream sector of the oil and gas industry. EnCap is led by its four founders – managing partners David Miller, Gary Petersen, D. Martin Phillips and Robert Zorich; and three additional managing partners – Jason DeLorenzo, E. Murphy Markham IV and Douglas Swanson, Jr.
“As our 19th institutional fund, EnCap Fund X represents a significant achievement for our firm. We look forward to building on our 27-year history in the business by maintaining our long-standing focus on partnering with the highest quality management teams in the upstream sector,” said Managing Partner David Miller.
Since founding in 1988, EnCap has managed about $27 billion of capital commitments from approximately 300 institutional investors and invested in more than 220 companies operating in the oil and gas industry. EnCap has offices in Houston and Dallas (www.encapinvestments.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-10-15