EnCap Investments, a leading provider of capital to the independent sector of the U.S. oil and gas industry with offices in Houston and Dallas, has closed EnCap Energy Capital Fund XI, with capital commitments of $7 billion, exceeded 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.
“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,” said Doug Swanson, a managing partner.
The fund received equity commitments from multiple institutional investors throughout its fundraising, including $75 million from the $25.6 billion Texas County & District Retirement System, $35 million from the $14.2 billion Arkansas Teacher Retirement System and $35 million from the $34.7 billion Illinois Municipal Retirement Fu
