The $142 billion Teacher Retirement System of Texas has committed $200 million to EnCap Investments’ fourth midstream fund, according to Juliana Fernández Helton, communications specialist for the pension fund.
EnCap Flatrock Midstream Fund IV is an infrastructure fund that invests in energy assets. The fund has raised $1.92 billion so far, according to a filing with the SEC.
In 2008, EnCap Investments and Flatrock Energy Advisors joined together in a long-term partnership to create EnCap Flatrock Midstream, a series of venture capital funds to invest in the midstream sector of the North American energy space. More specifically, the fund series pursues attractive investment opportunities in natural gas gathering, treating, compression, processing and storage operations, crude oil gathering and transportation, and produced water handling and disposal, among other investments.
The first of these funds, Encap Flatrock Midstream Fund I, closed in April 2010 with institutional-investor commitments totaling $791.6 million. Fund II closed in July 2012 with $1.75 billion of limited-partner capital commitments. Fund III closed in May 2014 with $3 billion of limited-partner capital commitments.
In additional fundraising, EnCap closed EnCap Energy Capital Fund XI earlier this month, with capital commitments of $7 billion, exceeding its target.
